The federal government has seized nearly $700 million from FTX founder Sam Bankman-Fried since his alleged fraud was uncovered last year.
A majority of the funds, around 55 million shares worth $525 million, were taken from the cryptocurrency and stock trading platform Robinhood. The authorities also recovered more than $170 million in cash from several bank accounts, according to a court filing published on Friday.Damian Williams, the U.S. Attorney for the Southern District of New York, revealed in the filing that all of the money was in U.S.
Bankman-Fried had also allegedly misused billions of dollars in client funds that were transferred prior to the collapse, which prosecutors allege he used to buy real estate and make political donations. "FTX US remains fully solvent and should be able to return all customers’ funds. FTX International has many billions of dollars of assets, and I am dedicating nearly all of my personal assets to customers," Bankman-Fried explained in a blog post earlier this month.
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