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