In the case against the founder of the bankrupt crypto exchange FTX, Sam Bankman-Fried, new documents have surfaced: these are information about the millionaire’s remaining assets in accounts and securities. Previously, details of Bankman-Fried’s remaining estate were not disclosed.
The discovered assets will be forfeited if the court finds the owner of FTX guilty of fraud. The withdrawn funds will be used to pay affected investors of the crypto exchange, Bloomberg writes.
The prosecution found out details about assets totaling almost $700 million (10 accounts in total, stocks, cryptocurrencies and cash).
The largest amount, around $526 million, is 55 million Robinhood Markets shares. About $171 million more are crypto deposits in FTX Digital Markets and Binance accounts.
The prosecutor’s office also found a little more than $20 million in the account of the holding company Emergent Fidelity Technologies, in whose name several shares of Fried were purchased.
Asset forfeiture is likely as Fried’s court case is not going well. Earlier, bankrupt crypto exchange co-founder Gary Wang and former Alameda Research CEO Caroline Ellison admitted to fraud in the FTX case, exposing the platform’s connection to Alameda.
Author:
Ekaterina Alipova
Source: RB
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