US authorities confiscate Sam Bankman-Fried’s planes


Two luxury jets purchased by Sam Bankman-Freed (SBF) through collapsed company FTX are facing confiscation. This is stated in a document published by the US Department of Justice.

According to lawyers, the Bombardier Global 5000 BD-700-1A11 and Embraer Legacy EMB-135BJ were purchased with funds obtained fraudulently. In turn, FTX claimed that the loans used to purchase the aircraft were documented.

Ownership, however, is disputed by Bahamian operator Island Air Capital (IAC). The latter claims that he bought both aircraft for $15.9 million and $12.5 million, using funds provided by the exchange.

The planes were purchased in March and August 2022, according to court documents.

IAC officials said they “did not know or have any reason to suspect fraud on the part of FTX,” nor did they question the source of the funds.

Let us remind you that on October 3, hearings began in the case of Sam Bankman-Fried. The latter has been charged with seven criminal counts, including conspiracy to commit fraud.

Previously, former head of Alameda Research Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to charges related to the collapse of the platform and agreed to assist the investigation.

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