Following the criminal conviction of former FTX CEO Sam Bankman-Fried, $11 billion was seized in March for property related to his criminal conduct, including crypto tokens, private jets, funds in bank accounts, and more.
Now three separate groups - the property of FTX debtors, a class of creditors, and an offshore entity founded by Sam - have filed competing claims against the seized assets, claiming that the property legally belongs to them.
The debtor's estate claims in the filing that although Bankman-Fried was ordered to forfeit the relevant assets, they did not belong to him in the first place because they were the result of his criminal conduct. "According to the outcome of the trial, all specific property was held in the name of the debtor entity or FTX Digital and/or was fully funded by the debtor's assets," the filing states.
Three independent groups file competing claims against SBF for confiscated assets
2024-06-15 19:17:20
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