The US Department of Justice wants to seize two luxury jets allegedly owned by former FTX CEO Sam Bankman-Fried.
In a new lawsuit, the government says the defendants’ indictment will allow them to seize a Bombardier Global 5000 BD-700-1A11 aircraft and an Embraer Legacy EMB-135BJ aircraft – two luxury aircraft suspected of they are owned by the disgraced co-founder of FTX.
“In accordance with United States v. Grammatikos, 633 F.2d 1013, 1024 (2d Cir. 1980), the Government respectfully gives notice that the property subject to forfeiture as a result of the offenses described in paragraphs one through with four and seven of the indictment 22 Kr. 673 (LAK) v Samuel Bankman-Fried.”
Bankman-Fried is currently on trial for allegedly misusing billions of dollars in customer funds and defrauding investors.
Yesterday, during the second day of the trial, Bankman-Fried and his lawyers asked to use the US regulatory framework for crypto assets – or lack thereof – to argue that he technically did not misuse funds.
Bankman-Fried suggested that there are no laws specifically prohibiting crypto exchanges from using funds deposited by customers for any purpose they see fit.
However, prosecutors decided to exclude the argument because it is irrelevant and could confuse the jury.
A day earlier, Bankman-Fried’s lawyers tried to prevent specific investors and insiders from testifying against him.
According to a letter sent to the judge by the suspect’s lawyers, certain witnesses should be excluded because the request for them to testify “is premature and lacks the details on which his requests could plausibly be based.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on TweetFacebook and Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Melinda Nagy