SBF sells its Washington home because the feds have seized $700 million.

Sam Banksmanfried is in deep financial trouble after the recent Fed raid. According to reports, United States federal authorities have taken about $700 million from the former CEO of FTX, mainly from his Robin Hood stake. Soon after, the crypto villain put his Washington, D.C., townhome on the market for $3.28 million.

SBF in big money crunch

As he slowly loses support from American capital, Sam Banksman Freud One has to let go of one’s physical assets gradually. The mega house he has put up for sale has four bedrooms and five bathrooms.

The list price of a DC home remains the same as the purchase price. According to available reports, SBF’s brother Gabe Bankman-Fried purchased the home in April 2022 through his non-profit organization, Guarding Against Pandemics.

The Washington House is not the only property owned by SBF. A month after his extradition to the United States from the Bahamas, a judge released SBF. $250 million guaranteed Secured by the equity in their $4 million family home in Palo Alto, California. But unfortunately this is also the house where he is detained.

The feds seized $700 million worth of SBF assets

According to last week’s court filing, the feds seized more than 55 million shares of Robin Hood stock from SBF. Additionally, they now have millions of dollars in several bank accounts. The prosecution argues that the SBF used FTX Funds to make personal investments.

Bankman-Fried was arrested in the Bahamas last month and faces charges of wire fraud, money laundering and conspiracy to defraud. However, SBF Pleaded not guilty. on all charges.

If the court finds him guilty – SBF faces a long, cold stay in federal prison. Bankman Freud faces up to 115 years in prison for fraud and other crimes.

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