Feds Seize Additional $150 Million in FTX Assets in Case Against Co-Founder #GeekLeap

Federal prosecutors have seized $150 million in property related to FTX cryptocurrency change co-founder Sam Bankman-Fried, a brand new courtroom doc reveals. This makes for a mixed practically $700 million in shares, money and different property locked down by the feds in relation to the case.

In early January, feds made an preliminary asset seizure of over 55 million shares of Robinhood inventory and $20 million in money. Within the weeks since, prosecutors secured over $150 million in money held in FTX’s identify however cut up amongst completely different banks, in line with the doc. 

Bankman-Fried was charged with eight counts of cash laundering and fraud final month, to which he pleaded not responsible. Two of his lieutenants on the cryptocurrency change have pleaded responsible to their very own fraud prices and are mentioned to be cooperating with investigators. 

In a separate investigation, the Division of Justice is investigating $370 million in FTX property that went lacking hours after the change declared chapter.

Learn extra: The Fall of FTX and Sam Bankman-Fried: A Timeline

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