Crypto Fraudster Bankman-Fried Forfeits $1B in Assets, Private Jets
A U.S. court has ordered convicted cryptocurrency fraudster Samuel Bankman-Fried (SBF) to forfeit approximately USD1 billion in assets, including two private jets, political donations, and significant crypto holdings. His largest forfeited asset is 55.2 million Robinhood Markets shares, valued at USD605 million.
On February 18, the U.S. District Court for the Southern District of New York issued a final 70-page forfeiture order detailing his seized assets. Among them are two private jets:
- Global 5000 N410AT (msn 9295), parked at Hartford Bradley since January 2023. The 17-year-old aircraft was acquired under fractional ownership but remains disputed in ownership records.
- Legacy 600 C6-BDE (msn 14500967), a 19-year-old jet, has been parked at Fort Lauderdale Executive since August 2022. It was previously operated by Trans Island Airways.
Bankman-Fried was sentenced to 25 years in prison in March 2024 after being convicted of seven fraud and conspiracy charges in November 2023. He defrauded customers of the now-bankrupt FTX Trading cryptocurrency exchange, misappropriating USD8 billion.
As the founder of FTX and Alameda Research, SBF was once a key figure in the crypto industry, overseeing FTX’s global expansion across 130 affiliates. However, accusations of fraud triggered massive customer withdrawals, leading to FTX’s collapse on November 11, 2022. He was arrested in the Bahamas the following month and extradited to the U.S., where he was convicted in a highly publicized trial.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com