According to an article by Reuters, a court document was filed on Friday disclosing the fact that in January, federal prosecutors seized roughly $700 million in assets from FTX founder SBF, most of which were in the form of Robinhood stock.
Consequently, assets worth over $6 million were confiscated from accounts at Silvergate Bank by prosecutors, and another $50 million was seized from a Moonstone Bank account.
According to court documents, funds were also seized from accounts on Binance and Binance.US, as CNBC reported.
Earlier this month, the Department of Justice made public the confiscation of Robinhood shares, and on Friday, it released a more thorough list of seized assets.
Prosecutors contend that SBF took money from consumers in order to pay for the more than 55 million Robinhood shares that are currently in dispute. However, SBF refuted the charges of theft of consumer assets.
There have been disagreements over who is the rightful owner of the confiscated Robinhood shares, which are worth roughly $525 million, between Bankman-Fried, FTX, and insolvent crypto lender BlockFi.
Sam Bankman-Fried and his holding company, Emergent Fidelity Technologies, were sued on the same day that cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection over shares of Robinhood Markets (HOOD) that the business had pledged to BlockFi as security.
Regulators Are Investigating FTX
Regulators have been intensively scrutinizing the exchange and its former CEO since the FTX declared bankruptcy in November, due to the way the demise of the exchange shook the industry. Notably, Bankman-Fried, who is currently on a bail, was imprisoned in the Bahamas, where FTX is incorporated, and then extradited to the United States.
As business partners Gary Wang, 29, and Carolyn Ellison, 28, pleaded guilty to charges of fraud in Manhattan Federal Court and collaborated with the government in exchange for leniency in sentencing, his coworkers have now come forward to expose him.
