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Feds seize another $150 million in FTX assets in case against co-founder

Feds seize another $150 million in FTX assets in case against co-founder

Feds seize another $150 million in FTX assets in case against co-founder

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Federal prosecutors have seized $150 million in assets associated with FTX cryptocurrency exchange co-founder Sam Bankman-Fried, a new court document reveals. This represents a combined total of nearly $700 million in stock, cash and other assets held by federal authorities in connection with the case.

In early January, the federal government made an initial asset seizure of more than 55 million Robinhood shares and $20 million in cash. In the weeks that followed, prosecutors obtained more than $150 million in cash held in FTX’s name but split among different banks, according to the document.

Bankman-Fried was charged with eight counts of money laundering and fraud last month, to which he has pleaded not guilty. Two of his lieutenants at the cryptocurrency exchange have pleaded guilty to their own fraud charges and are cooperating with investigators.

In a separate investigation, the Justice Department is investigating $370 million in FTX assets that disappeared hours after the exchange went bankrupt.

Read more: The Fall of FTX and Sam Bankman-Fried: A Timeline

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