SBF to Forfeit $700M If Found Guilty of Fraud
BITmarkets Team
Jan 22, 2023
New court filings regarding the infamous FTX founder Sam Bankman-Fried (SBF) have emerged, ruling that if he was to be found guilty of fraud, he will have no choice but to forfeit crypto assets worth nearly $700 million.
While most of SBF’s assets were seized by the government in the period between January 4th and January 19th of 2023, there remains behemothic assets which may be forcefully grabbed from SBF’s hands:
- 55,273,469 Robinhood (HOOD) shares, worth nearly $525 million
- $94.5 million held at Silvergate Bank
- $49.9 million stake at Farmington State Bank
- $20.7 million at ED&F Man Capital Markets, Inc
The conundrums of the disgraced FTX remain prevalent, attracting the attention of the whole crypto scene and its different players; from traders and investors to business and nations.
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