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Feds seize almost $700M in cash, assets linked to Bankman-Fried

21 January 2023 05:14 (UTC +04:00)

Federal prosecutors were able to seize nearly $700 million in assets and cash linked to Sam Bankman-Fried, including over 55 million shares of Robinhood, CNCB informed on Friday, citing court filings, APA reports.

The filings show that Silvergate Bank held three FTX Digital Markets accounts with more than $6 million, at the same time, nearly $50 million went into Moonstone Bank, a US financial institution connected to FTX management. Meanwhile, Robinhood's more than 55 million shares are at the center of a dispute between representatives of crypto-lender BlockFi, Bankman-Fried himself, and FTX's bankrupt management. Prosecutors stated that these shares were purchased using stolen customer funds. Robinhood shares closed Friday at $9.52, valuing the recovered shares at more than $526 million.

Previsoluy, Sam Bankman-Fried pleaded not guilty to eight counts of fraud and conspiracy to commit fraud charged in connection with the bankruptcy of crypto-exchange and hedge fund Alameda Research.