The federal government seized more than $600 million in assets from disgraced cryptocurrency executive Sam-Bankman Fried this month, according to a new court filing.
The seizures are part of the criminal case against Bankman-Fried, 30, who has pleaded not guilty to fraud and conspiracy charges related to the alleged theft of billions of dollars from clients and investors of FTX, the crypto exchange now bankrupt that he founded. .
Federal prosecutors on Friday provided a list of assets likely to be forfeited as a result of the criminal charges, including cash held in various banks and accounts as well as more than 55 million Robinhood shares.
The most recent seizure was on Thursday, when the government took US$94,570,490.63 held at Silvergate Bank, according to the filing. Several Binance accounts were also seized, the filing says, although their values were not included.
Bankman-Fried was charged with eight counts of fraud and conspiracy. Federal prosecutors have alleged that Bankman-Fried orchestrated one of the “biggest financial frauds in American history” by directing billions of money from FTX clients and investors and funneling it into his private hedge fund Alameda. Research.
Other funds were used to purchase lavish real estate and make tens of millions in political donations, court records show.
He is tentatively scheduled to stand trial in October.
Bankman-Fried was extradited from the Bahamas, where he was living in a multimillion-dollar mansion, on December 2. 21.
Prior to his arrest last month, Bankman-Fried insisted in numerous interviews, including one with ABC News, that he was unaware of any misuse of FTX client funds.
In the ABC News interview, Bankman-Fried told George Stephanopoulos that he only had one ATM card and “$100,000 left in my bank account.”
“That’s honestly, to my knowledge, that’s what I have,” he said.