Last Updated on January 9, 2023 by Bitfinsider
A court document from January 6 says that the shares were taken because they were part of illegal money laundering or wire fraud.
Last week, a lawyer for the Justice Department said that it was seizing Robinhood shares linked to FTX worth hundreds of millions of dollars. Bankman-Fried then went to court to stop his creditors from taking over his share of Robinhood.
The disgraced former CEO owns 90% of Emergent Fidelity Technologies, a company that owns more than 50 million shares of Robinhood stock. Bankman-Fried gave up his job as CEO of FTX when the company filed for bankruptcy in November.
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