Summary
- U.S. gov seeks $700M assets from ex-FTX CEO
- Assets include 55M Robinhood shares and $171M cash
- Government alleges assets are not part of bankruptcy estate or exempt from freezing
The U.S. government is seeking to take possession of approximately $700 million worth of assets it seized from former FTX CEO Sam Bankman-Fried earlier this month, according to court documents filed on Friday.
These assets include over 55 million Robinhood shares valued at around $525 million, which were reportedly purchased with borrowed funds from Alameda and were at the center of a dispute between Bankman-Fried, FTX Group, and BlockFi.
Additionally, the government is seeking to claim $171 million in cash from various bank accounts linked to Bankman-Fried's companies. The assets were seized in early January and the government is now seeking to have them forfeited, as stated in a bill of particulars filed on Friday in Bankman-Fried's criminal case.
A government lawyer previously stated that these assets "are not property in the bankruptcy estate" or are exempt from freezing, like most FTX assets are, pending liquidation.