The assets of trillions of rupiah belonging to the boss of FTX, Sam Bankman Fried, were confiscated by the Federal Bureau of Investigation (FBI). According to the court, most of its value was in Robinhood stock.
Launching information presented by Reuters, Saturday (21/1/2023), the Department of Justice revealed that the confiscation of Robinhood shares was carried out earlier this month. In addition, the confiscation also targeted a number of cash in various banks and Binance accounts.
It is known that the value of the confiscated Robinhood shares reached USD 525 million. The amount has been the subject of a dispute between Bankman, FTX, and crypto lender BlockFi.
The confiscation was also carried out by the Department of Justice, which led to USD 94.5 million in cash. The money was obtained through a Silvergate Bank account, which has ties to FTX Digital Markets, a subsidiary of FTX in the Bahamas.
It didn't stop there, they also confiscated USD 7 million from a similar bank with a different account. So before that, the Department of Justice also held USD 50 million from the FTX Digital Markets account at Moonstone Bank.
Other assets in the three Binance accounts were also affected by the forfeiture. That way the total itself is almost USD 700 million . The confiscation of the assets of the FTX boss was the result of a crime he committed, in which Sam Bankman Fried was charged with fraud against his investors.
The latest news regarding Sam Bankman Fried, where he has been extradited to the United States from the Bahamas. Apparently, one of the informants who leaked how FTX went wrong was a woman who was suspected of being his ex-girlfriend.
He was charged with a maximum penalty of 115 years in prison. But is currently being released, on $250 million bail to be placed under house arrest at his parents' residence in Palo Alto, California, near Stanford University.