Federal Prosecutors Seize Sam Bankman-Fried Assets Worth $700m, Including Silvergate Bank Accounts
Federal authorities have confiscated approximately $700 million worth of assets belonging to the disgraced FTX founder Sam Bankman-Fried, including three accounts at Silvergate Bank that held U.S.
dollars.According to a court filing from Friday, Federal prosecutors have seized around $525 million worth of Robinhood stock, $94.5 million in cash from one account at Silvergate Bank, more than $7 million from other Silvergate accounts, nearly $50 million from an account at Moonstone Bank, and assets in three Binance accounts.
As reported, the US Department of Justice revealed the seizure of 56 million shares of Robinhood earlier this month. The shares are owned by Sam Bankman-Fried and FTX co-founder Gary Wang through a holding company called Emergent Fidelity Technologies and were purchased with a loan from his own hedge fund, Alameda Research.
The shares have been the subject of disputes among several parties, with a total of four entities laying claim to the shares.
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