US justice entertains assets of $ 1 billion dollars fried
The New York court has just ordered the final seizure of Sam Banman fried (SBF), former FTX director, for the total value of billions of dollars. This historical decision comes when the crypto exchange just begins to pay its first creditors.
Justice strikes hard and stripes Sam Banman
On 18 February 2025, South York South District Court issued a final order with a detailed list of goods confiscated by Banman. The heart of these assets is the block of 55.2 million shares of Robinhood, the value of which is $ 605.7 million after their acquisition of companies last September. This event was originally confiscated by the Ministry of Justice of the United States in January 2023.
The personal assets of the former Krypto Magnata also included two luxury aircraft: a global bomber 5000 and Emmaer inheritance. In addition, there are many assets belonging to the Alamed Research, a trading company that has been co -founded and which is the core of the FTX scandal.
The authorities also received their hands on a particularly diverse crypto portfolio, including large amounts in bitcoins, ether, cardano, dogecoin and millions of dollars in Stablecoins Tether. These cryptocurrencies were mainly owned on the binance.us platform.
A large network of political gifts revealed
The order of confiscation emphasizes the complex network of political contributions organized by Bankman-Fried. These gifts, which were directly or through other FTX leaders, such as Ryan Salame and Nishad Singh, covered the entire American political range. The recipients included both candidates for Congress and local political organizations.
This revelation comes when FTX began on 18 February 2025 its first phase of reimbursement to creditors. Of the planned $ 1.2 billion for this initial phase, the company has already distributed 800 million into more than 162,000 accounts through Kraken and Bitgo platforms. This first wave concerns the “class of comfort” and combines receivables of less than $ 50,000.
It should be noted that the value of seized assets is far beyond the initial estimates of January 2023, which provided seizure of $ 700 million. Investigators have discovered other SBF assets, increasing the total amount to nearly a billion dollars. This confiscation is the main backup for FTX victims that have lost nearly $ 9 billion together.
Meanwhile, Sam Banman, a fried, convicted of 25 years in prison, continues his legal struggle for appeal. It calls on the jury’s decision and says that prosecutors have introduced a shortened version of FTX user fund management.
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