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Feds seize almost $700 million of FTX
assets in Sam Bankman-Fried criminal case

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Posted By: Hazymac, 1/20/2023 7:29:53 PM

Federal prosecutors seized nearly $700 million in cash and assets connected to Sam Bankman-Fried, primarily in the form of Robinhood shares that were owned by the FTX founder, a court filing revealed Friday. John Ray, who replaced Bankman-Fried as CEO to guide FTX’s restructuring, is trying to rescue funds that were lost by the crypto company’s depositors when the firm spiraled into bankruptcy in November. Bankman-Fried was arrested on criminal fraud charges in December and is released on a $250 million bond as he awaits trial. The 55 million-plus Robinhood shares are at the heart of a contentious multi-party battle between Caribbean litigants, representatives of bankrupt crypto lender BlockFi,

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Reply 1 - Posted by: itsonlyme 1/20/2023 7:41:35 PM (No. 1383568)
January 19, 2023 "Shortly thereafter, Bill and Hillary Clinton invited the 30-year-old Bankman-Fried — known as “SBF” in crypto circles — to speak at their annual Clinton Global Initiative in New York — an effective endorsement of the former FTX CEO that played a pivotal role in elevating his reputation among politicians and deep-pocketed investors alike, insiders told The Post." Cigar Bill, Vast Right-Wing Conspiracy & "The Foundation"
14 people like this.

Reply 2 - Posted by: Scribelus 1/20/2023 8:12:03 PM (No. 1383581)
Ten percent. 70 million for the Big Guy. Not bad.
7 people like this.

Reply 3 - Posted by: janjan 1/20/2023 8:25:00 PM (No. 1383588)
Anything following’Fed seized’ is guaranteed to be corrupt. This money will never be seen or heard about again.
13 people like this.

Reply 4 - Posted by: Scottyboy 1/20/2023 8:26:16 PM (No. 1383589)
Gee, it’s almost like this creep was peddling imaginary wealth to suckers on the front end and drawing it out the back door in real cash. Imagine that.
15 people like this.

Reply 5 - Posted by: MindMadeUp 1/20/2023 8:30:14 PM (No. 1383592)
FTX lost/swindled clients out of something like $32 billion. Since one billion equals 1,000 million, the $700 million seized sounds good, but is relative peanuts, or "chump change" as Rush used to say.
15 people like this.

Reply 6 - Posted by: Jethro bo 1/20/2023 9:39:10 PM (No. 1383631)
We all know the only reason the Feds did this was to gather information and hide it too protect the Dems this guy funded. Its not an investigations, its a cover up.
17 people like this.

Reply 7 - Posted by: Highlander 1/21/2023 4:53:45 AM (No. 1383693)
How does cryptocurrency get seized? I’m not a financial sophisticate, and I can’t get my mind wrapped around this idea of a monetary tool for exchange of goods and services. One flick of the off-switch and it’s gone! Crypto-wealth is so illusory!
6 people like this.

Reply 8 - Posted by: F15 Gork 1/21/2023 6:59:06 AM (No. 1383739)
Who in their right mind invests with a guy wearing cutoffs, a sweat shirt and sporting a Bozo The Clown haircut?
8 people like this.

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