FTX Founder Sam Bankman-Fried’s Two Multimillion-Dollar Jets Could be Forfeit: DoJ Says

Sam Bankman-Fried apparently owns two luxury jets that could possibly be forfeited as U.S. prosecutors try to claw back assets.
FTX Founder Sam Bankman-Fried’s Two Multimillion-Dollar Jets Could be Forfeit DoJ Says

A Bombardier Global and an Embraer Legacy aircraft were identified as two of Bankman-Fried’s assets that might be taken by the Department of Justice in a filing made on October 4. Bankman-Fried possessed two high-end aircraft but never utilized them.

In connection with the failure of FTX, his cryptocurrency exchange, in November 2022, Bankman-Fried is currently on trial for fraud and conspiracy. But he hasn’t entered a guilty plea yet. According to data from aircraft monitors, both jets were registered as being privately owned.

According to a court document filed on September 21 as part of the bankruptcy proceeding Bankman-Fried’s former company, which seeks to recoup money for the benefit of its creditors, there is a disagreement about ownership of two airplanes between the DOJ and FTX.

In a filing by Island Air Capital (IAC), it was stated that “The Government has taken the position that both aircraft are subject to forfeiture as property purchased with the proceeds of fraud.” FTX contends that the loans taken out to purchase the aircraft were not properly documented, giving them ownership.

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