2023-01-28
US attorneys in New York court alleged Sam Bankman-Fried that he
used funds deposited by FTX’s customers to build wealth for himself. Thus, he acquired
assets illegally.
Federal prosecutors confiscated assets of Sam Bankman-Fried including
1. 55,273,469 shares of Robinhood (worth $574 million as of January 28, 2023)
2. $20,746,713.67 in United States currency formerly on deposit in Account Numbers 499-30500 and 429-30500 at ED&F Man Capital Markets, Inc., a/k/a “Marex,” held in the name of “Emergent Fidelity Technologies”.
3. $49,999,500 in United States currency formerly on deposit in Account Number 9000-1924-02685 at Farmington State Bank d/b/a “Moonstone Bank” held in the name of “FTX Digital Markets”.
4. $5,322,385.32 in United States currency formerly held on deposit in Account Number 0000005090042549 at Silvergate Bank held in the name of “FTX Digital Markets”.
All of the above assets have been seized by the government on January, 2023. Sam Bankman-Fried is scheduled to go to court hearing and face trial on October 2023. If he found guilty, $700 million of his assets will be confiscated.
