1 year ago
Two luxury jets seemingly owned by Sam Bankman-Fried, but ne'er utilized by him, could perchance beryllium forfeited arsenic U.S. prosecutors effort to claw backmost assets.
In a late Wednesday filing, a forfeiture measure issued by the Department of Justice listed 2 aircraft, a Bombardier Global and Embraer Legacy, arsenic portion of assets belonging to Bankman-Fried that could perchance beryllium seized from him.
Bankman-Fried is currently undergoing transgression trial successful New York connected fraud and conspiracy charges linked to the illness of his crypto speech FTX successful November 2022. He has pleaded not guilty.
Data from airplane trackers shows some jets listed arsenic having “private” owners. The 2 craft are the taxable of an ownership quality betwixt the DOJ and FTX, according to a Sept. 21 tribunal filing made arsenic portion of bankruptcy proceedings for Bankman-Fried’s erstwhile company, which is seeking to recoup funds for the payment of creditors.
“The Government has taken the presumption that some craft are taxable to forfeiture arsenic spot purchased with the proceeds of fraud,” portion FTX claims ownership connected the ground that alleged loans utilized to acquisition the planes were not documented, said the filing by Island Air Capital (IAC).
IAC wants to cognize who volition ft the measure for ongoing repairs and inspections portion that quality is settled, and said that successful signifier cipher associated with FTX ever flew connected either level arsenic they were inactive being upgraded erstwhile the institution filed for bankruptcy.
The Embraer was primitively bought by IAC for $12.5 cardinal and the Bombardier for $15.9 cardinal utilizing “financing provided from FTX,” the filing said, detailing an unsecured, no-interest indebtedness agreed to successful a "handshake deal" betwixt Bankman-Fried and IAC's owner, Paul Aranha.
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