The US Department of Justice has seized $456 million of Robinhood shares, owned by FTX co-founders Sam Bankman-Fried and Gary Wang.
The shares were confiscated for involvement in money laundering or fraud violations, according to a January 6 court filing.
Last week, a lawyer from the Department of Justice said that millions of dollars of Robinhood shares in FTX had been confiscated. Sam Bankman-Fried filed a lawsuit to prevent the takeover of his shares in Robinhood.
The former CEO of discredited FTX owns 90% of Emergent Fidelity Technologies, which owns more than 50 million shares of Robinhood.
After FTX went bankrupt in November, SBF announced its resignation. SBF, who was arrested in the Bahamas after a while, was extradited to the USA in the past weeks and was released with the payment of his bail fee. According to the court’s decision, SBF will remain under house arrest until the case is concluded.
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