facing major charges in the United States FTX New information about its founder, Sam Bankman-Fried, continues to come to light.
According to court documents released today, approximately $700 million in additional assets will be confiscated if SBF is convicted of fraud.
Federal Prosecutor Damian Williams announced in his document that he identified 10 accounts belonging to Bankman-Fried, consisting of shares, crypto and cash. Most of SBF’s said assets are in the well-known broker Robinhood. The market value of 55 million shares was recorded as $525 million as of Friday close.
The bankrupt stock boss also has $49.9 million in cash at Farmington State Bank and $94.5 million at Silvergate Bank. With the confiscation decision, the court decided to freeze his assets for the time being. Bankman-Fried will lose these assets completely if the fraud charge is cleared.
SBF Denies Accusations!
Bankman-Fried, the former boss of the bankrupt cryptocurrency exchange FTX, is facing 8 separate charges in the US. He denies all allegations against SBF, who was put on trial pending bail of $250 million.
John J. Ray III, who took over the stock market after the bankruptcy, tracks down lost client assets.
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