What happens if Sam Bankman-fried is found guilty of fraud?

Sam Bankman-Fried will have to give up roughly $700 million in assets if he's found guilty of fraud. US prosecutors have already seized over $500 million in Robinhood shares from him, per a court filing Friday. The FTX founder has pleaded not guilty to eight criminal charges alleging he misused customer funds.

How much money was seized from FTX founder Sam Bankman-fried?

Federal authorities have seized almost $700 million from FTX founder Sam Bankman-Fried, mostly from shares of Robinhood that he owned. A court filing from Friday shows that the federal government seized more than 55 million shares of Robinhood stock along with tens of millions of dollars from each of several bank accounts.

Did Bankman-fried misappropriate customer assets?

Bankman-Fried has denied misappropriating customer assets. Three of the seized accounts were held at Silvergate Bank, in the name of FTX Digital Markets, holding over $6 million. Those assets, held in the name of a Bahamian subsidiary, were assumed by the government “on or about” Jan. 11.

What's going on with Sam Bankman-fried's crypto Empire?

The US government is stepping into a contentious, multijurisdictional legal battle over the ownership of hundreds of millions of dollars' worth of assets connected to the collapse of Sam Bankman-Fried's crypto empire.