The U.S. Division of Justice (DOJ) is seeking to seize two luxurious jets which can be allegedly owned by former FTX chief government Sam Bankman-Fried.
In a brand new court docket submitting, the federal government says that the defendants’ expenses will permit them to grab a Bombardier World 5000 BD-700-1A11 plane and an Embraer Legacy EMB-135BJ plane – two luxurious planes which can be suspected to be owned by the disgraced FTX co-founder.
“Pursuant to United States v. Grammatikos, 633 F.second 1013, 1024 (second Cir. 1980), the Authorities respectfully offers discover that the property topic to forfeiture on account of the offenses described in Counts One via 4 and Seven of Indictment 22 Cr. 673 (LAK) in opposition to Samuel Bankman-Fried.”
Bankman-Fried is at present on trial for allegedly mishandling billions of {dollars} value of buyer funds in addition to defrauding buyers.
Yesterday, through the second day of the trial, Bankman-Fried and his attorneys requested to make use of the US regulatory framework on crypto belongings – or lack thereof – to argue that he technically didn’t misuse any funds.
Bankman-Fried urged that there aren’t particularly any legal guidelines that bar crypto exchanges from utilizing customer-deposited funds for no matter function they deem match.
Nevertheless, the prosecutors moved to preclude the argument as an irrelevant one which will confuse the jury.
A day earlier than that, Bankman-Fried’s attorneys tried to dam particular buyers and insiders from having the ability to testify in opposition to him.
In line with a letter despatched to the decide by the defendant’s attorneys, sure witnesses needs to be barred as a result of the movement for them to testify “is untimely and is devoid of the element on which its requests might plausibly be primarily based.”
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