The U.S. Division of Justice (DOJ) is trying to seize two luxurious jets which are allegedly owned by former FTX chief govt Sam Bankman-Fried.
In a brand new courtroom 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 are suspected to be owned by the disgraced FTX co-founder.
“Pursuant to United States v. Grammatikos, 633 F.2nd 1013, 1024 (2nd Cir. 1980), the Authorities respectfully provides discover that the property topic to forfeiture on account of the offenses described in Counts One by means of 4 and Seven of Indictment 22 Cr. 673 (LAK) in opposition to Samuel Bankman-Fried.”
Bankman-Fried is at the moment on trial for allegedly mishandling billions of {dollars} value of buyer funds in addition to defrauding traders.
Yesterday, in the course of 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 prompt that there aren’t particularly any legal guidelines that bar crypto exchanges from utilizing customer-deposited funds for no matter objective 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 traders and insiders from having the ability to testify in opposition to him.
In accordance with a letter despatched to the choose by the defendant’s legal professionals, sure witnesses ought 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 may plausibly be primarily based.”
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