Prosecutors seize $458 million in Robinhood shares purchased by Bankman-Fried Cryptocurrencies
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Shapiro said prosecutors also seized the funds in U.S. bank accounts affiliated with Bahamas-based FTX Digital Markets, with court records showing the Silvergate Bank and Farmington State Bank accounts contained approximately $143 million. According to an affidavit Bankman-Fried filed in an Antigua court in December, he purchased the 7.42% stake in Robinhood through Emergent Fidelity Technologies Ltd using funds he borrowed from Alameda Research. Bankman-Fried owned 90% of Emergent, with former FTX cofounder Gary Wang owning the remaining 10%.
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