{"id":38123,"date":"2023-01-21T07:04:22","date_gmt":"2023-01-21T07:04:22","guid":{"rendered":"https:\/\/lydian.io\/?p=38123"},"modified":"2023-01-21T07:04:23","modified_gmt":"2023-01-21T07:04:23","slug":"sbf-will-lose-700-million-in-assets-if-found-guilty-of-fraud","status":"publish","type":"post","link":"https:\/\/lydian.io\/sbf-will-lose-700-million-in-assets-if-found-guilty-of-fraud\/","title":{"rendered":"SBF will lose $700 million in assets if found guilty of fraud","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Disgraced FTX founder Sam Bankman-Fried (SBF) may have round $700 million price of belongings confiscated if discovered responsible of fraud, in keeping with new court docket filings. <\/p>\n
In a court docket doc filed<\/a> On Jan. 20, U.S. Lawyer Damian Williams acknowledged that the \u201cauthorities respectfully advises that property topic to forfeiture\u201d covers a protracted listing of belongings throughout fiat, shares and crypto. <\/p>\n The filings say many of the belongings have been seized by the federal government between Jan. 4 and Jan. 19, whereas it's also making an attempt to say \u201call funds and belongings\u201d belonging to a few separate Binance accounts. <\/p>\n Trying on the listing of belongings seized, the biggest allocations embody 55,273,469 shares of Robinhood (HOOD) price roughly $525.5 million on the time of writing, $94.5 million at Silvergate Financial institution, 49 $.9 million at Farmington State Financial institution and $20.7 million at ED&F Man Capital Markets, Inc. <\/p>\n SABF Forfeiture Order: Court docket Listener<\/p>\n The federal government has filed a confiscation order on this case, alleging that these belongings have been illegally obtained by means of using buyer deposits. <\/p>\n Whereas members of SBF's internal circle corresponding to Caroline Ellison and Gary Wang have confessed their function in FTX's collapse and cooperated with prosecutors, the person himself has pleaded not responsible to all eight costs in opposition to him. <\/p>\n Associated: <\/strong>FTX Bankruptcy Attorney: Debtors Face 'Twitter Attack' By Sam Bankman-Fried<\/strong><\/a><\/p>\nFTX attracted African buyers with inflation hedge advertising and marketing <\/h3>\n