Feds seize nearly $700M worth of assets linked to FTX and Bankman-Fried

Federal prosecutors seized close to $700 million worth of assets connected to Sam Bankman-Fried, who has been accused of stealing billions from FTX customers, per a Friday court filing.

He has been accused of using stolen customer funds to purchase nearly 55 million shares in Robinhood—currently valued at about $525 million. These shares are at the center of disputes between bankrupt crypto-lender BlockFi, Bankman-Fried and FTX.

Prosecutors have further seized nearly $95 million from a bank account related to FTX. Earlier, the DOJ had seized close to $50 million in another account associated with FTX and Sam Bankman-Fried.

The founder and former FTX CEO, Bankman-Fried, has pleaded not guilty to fraud charges.