SBF's $1B forfeited assets include private jets, political donations: Court

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SBF's $1B forfeited assets include private jets, political donations: Court

//politics-government.news-articles.net/content/ .. lude-private-jets-political-donations-court.html

Published in Politics and Government on Wednesday, February 19th 2025 at 15:00 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

A court document from a US District Court shows the extent of Sam "SBF" Bankman-Fried's accumulated property forfeited: roughly $1 billion in assets, including two private jets, many political donations,

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Sam Bankman-Fried (SBF), the former CEO of the now-defunct cryptocurrency exchange FTX, has agreed to forfeit over $1 billion in assets as part of his sentencing for fraud and conspiracy charges. These assets include two private jets, a $2.2 million yacht, and significant political donations amounting to $100 million. The forfeiture also covers cash, investments, and other properties. This action follows his conviction on seven counts related to the misuse of customer funds at FTX, which led to the company's bankruptcy. The court documents reveal that these assets were either directly or indirectly acquired through the fraudulent activities at FTX. The forfeiture is part of a broader effort to compensate victims and recover funds lost in the collapse of FTX.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/sbf-s-1b-forfeited-assets-include-private-jets-political-donations-court/ar-AA1znJvo ]