US authorities are seizing $460M in Robinhood shares tied to FTX: Report

1 year ago 82

Officials reportedly told a bankrup justice they were successful the process of seizing 56 cardinal shares of Robinhood tied to FTX and its erstwhile CEO Sam Bankman-Fried.

112 Total views

1 Total shares

 Report

Ho-ho-ho! Get Limited Holiday Trait!

Collect this nonfiction arsenic an NFT

The United States Departure of Justice has reportedly seized oregon was successful the process of seizing much than $400 cardinal worthy of Robinhood shares linked to FTX arsenic portion of the lawsuit against the crypto exchange.

According to a Jan. 4 study from Reuters, U.S. officials told a justice they were successful the process of seizing assets tied to FTX and its erstwhile CEO Sam Bankman-Fried, which included 56 cardinal shares of Robinhood — worthy astir $468 cardinal astatine the clip of publication. The study followed a justice successful the transgression lawsuit against SBF ordering him not to access oregon transportation immoderate cryptocurrency oregon assets from FTX oregon Alameda.

Amid FTX’s bankruptcy proceedings, power of the Robinhood shares has been nether contention arsenic galore investors and creditors look to beryllium made whole. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon person all staked claims to the assets.

In national tribunal connected Jan. 3, Bankman-Fried pled not blameworthy to 8 transgression counts including ligament fraud, securities fraud and violations of run concern laws. He besides antecedently denied moving funds from Alameda, saying helium nary longer had entree to the wallets since stepping down arsenic CEO successful November.

Related: The result of SBF's prosecution could find however the IRS treats your FTX losses

The erstwhile FTX CEO has been nether location apprehension astatine his parent’s location successful California since December but has been allowed to question for approved reasons, including showing up for tribunal successful New York. His proceedings day has been acceptable for Oct. 2.

Read Entire Article