The United States Office of Justice has reportedly seized or was in the process of seizing more than $400 million in Robinhood shares linked to FTX as part of the case against the crypto exchange.
According to a January 4 Reuters report, US officials saying a judge were in the process of seizing assets tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million Robinhood shares, worth about $468 million at press time. The report followed a judge in the criminal case against SBF ordering him not to enter or transfer any cryptocurrency or assets from FTX or Alameda.
Amid FTX's bankruptcy proceedings, control of Robinhood's shares has been in dispute as many investors and creditors seek to recover. BlockFi, Bankman-Fried and FTX creditor Yonathan Ben Shimon have all claims at stake to assets.
On January 3, in federal court, Bankman-Fried pleaded not guilty to eight criminal charges, including wire fraud, securities fraud and violations of campaign finance laws. He also previously denied moving funds de Alameda, saying he no longer had access to the wallets since he stepped down as chief executive in November.
Related: The outcome of the SBF prosecution could determine how the IRS treats your FTX losses
The former FTX chief executive has been under house arrest at his parents' California home since December but has been allowed to travel for approved reasons, including court appearance in New York. His trial date was set for October 2.
Post navigation
