US DOJ announces seizure of 55M Robinhood shares

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The Justice Department said it had seized 55,273,469 shares of Robinhood and much than $20 cardinal successful U.S. currency arsenic portion of the transgression lawsuit against Sam Bankman-Fried.

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US DOJ announces seizure of 55M Robinhood shares

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The United States Department of Justice has officially notified the tribunal handling the bankruptcy of BlockFi that it has seized assets successful accordance with transgression cases against crypto speech FTX and its executives.

In a Jan. 6 tribunal filing, the Justice Department said it had seized 55,273,469 shares of Robinhood to which erstwhile FTX CEO Sam Bankman-Fried, BlockFi, and FTX creditor Yonathan Ben Shimon had made claims — worthy much than $450 cardinal astatine the clip of publication. The DOJ noted it had besides taken power of much than $20 cardinal successful U.S. currency from the brokerage steadfast ED&F Man Capital Markets.

Reports from Jan. 4 had suggested the the Justice Department was successful the process of seizing the Robinhood shares arsenic portion of the lawsuit against FTX. Bankman-Fried’s ineligible squad confirmed connected Jan. 5 the DOJ had moved guardant with seizing the shares, but inactive argued the erstwhile FTX CEO had a assertion to the assets “to wage for his transgression defense”.

“The charges successful the Indictment originate from an alleged wide-ranging strategy by the suspect to misappropriate billions of dollars of lawsuit funds deposited onto FTX, the planetary cryptocurrency speech founded by Bankman-Fried,” said the tribunal filing. “The Indictment includes forfeiture allegations, seeking to forfeit spot that constitutes oregon was derived from proceeds traceable to the conspiracy to perpetrate ligament fraud, ligament fraud, and spot progressive successful the conspiracy to perpetrate wealth laundering.”

This communicative is processing and volition beryllium updated.

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