Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash.
US Government Seizes Millions in Cash and Robinhood Shares From FTX Co-Founder; SBF Denies Misappropriation of Customer Assets
The U.S. government has seized nearly $700 million from the former FTX CEO and co-founder, Sam Bankman-Fried (SBF), according to court documents reviewed by CNBC. Most of the funds came from the 56,273,269 shares of Robinhood Markets Inc. (Nasdaq: HOOD) owned by Bankman-Fried. Using exchange rates from Jan. 20, 2023, the Hood shares are worth more than $526 million.
Furthermore, CNBC reporters