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CryptoIntelligence 2024-03-30 05:28:00

Prosecutors Seek Early Sale of FTX Founder’s Luxury Jets to Prevent Losses Ahead of Sentencing

Prosecutors Seek Early Sale of FTX Founder’s Luxury Jets to Prevent Losses Ahead of Sentencing

In a recent development in the United States government’s legal battle against Sam “SBF” Bankman-Fried, former CEO of FTX, prosecutors have moved to liquidate two luxury aircraft before finalizing forfeiture procedures. The action, detailed in a filing on March 22 with the U.S. District Court for the Southern District of New York, stems from efforts led by U.S. Attorney Damian Williams to mitigate the financial losses on two planes associated with FTX and Bankman-Fried. The government’s strategy aims to address the depreciation of the assets in question, specifically a Bombardier Global and an Embraer Legacy, which were previously flagged in

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