Private Jets, Political Cash Among $1B in Sam Bankman-Fried's Forfeited Assets: Court

A national tribunal has outlined conscionable however extended Sam Bankman-Fried's assets were earlier the young CEO of FTX was tried and imprisoned for fraud, and the authorities swooped successful to prehend astir $1 cardinal successful fiscal assets and 2 aircraft.

The last order of forfeiture issued connected Tuesday by the U.S. District Court for the Southern District of New York formally severed Bankman-Fried's ownership involvement successful a spot database dozens of pages long. The tribunal papers revealed the wide swath of assets the one-time billionaire claimed ownership in, including extended crypto holdings of Alameda Research, the trading steadfast SBF co-founded.

From the galore pages of cryptocurrencies, Alameda's assets astatine Binance included $56 cardinal successful Ripple-connected token (XRP), $3.6 cardinal of Tron's (TRX), $3.4 cardinal of Cardano (ADA), $2.3 cardinal successful bitcoin (BTC) and dozens of others, according to the accounting.

The weightiest holding elaborate among the assets were the proceeds from the merchantability of Robinhood banal — $606 cardinal held by Bankman-Fried's Emergent Fidelity Technologies.

Other fiscal assets included:

$119 cardinal successful Tether (USDT) held astatine Binance for Alameda Research

$21 cardinal astatine Marex held for Emergent Fidelity Technologies

$50 cardinal astatine Moonstone Bank for FTX Digital Markets

$101 cardinal astatine Silvergate for FTX Digital Markets

$7 cardinal astatine Flagstar Bank for SBF and different individual

The accounting of forfeited assets besides included 2 backstage jets: a 2009 Bombardier Global 5000 and a 2006 Embraer Legacy.

The tribunal papers besides elaborate an extended database of much than 250 governmental donations that had been pulled backmost from the campaigns and the organizations that received them, including amounts that different FTX executives allegedly gave nether SBF's direction. At 1 point, 1 successful 3 members of Congress during the past league were recipients of wealth from Bankman-Fried oregon different FTX executives, and they gave to an extended array of authorities governmental organizations, too.

Also connected Tuesday, the archetypal payouts began successful the bankruptcy of FTX, with $1.2 cardinal going out to those who were owed comparatively tiny amounts. They were acceptable to retrieve astir 119% of what they'd initially had successful their accounts during the 2022 collapse, missing retired connected the immense upswing successful crypto markets since then.