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The U.S. Department of Justice (DOJ) is looking to seize two luxury jets that are allegedly owned by former FTX chief executive Sam Bankman-Fried.<\/p>\n
In a new court filing<\/a>, the government says that the defendants\u2019 charges will allow them to seize a Bombardier Global 5000 BD-700-1A11 aircraft and an Embraer Legacy EMB-135BJ aircraft \u2013 two luxury planes that are suspected to be owned by the disgraced FTX co-founder.<\/p>\n \u201cPursuant to 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 Counts One through Four and Seven of Indictment 22 Cr. 673 (LAK) against Samuel Bankman-Fried.\u201d <\/em><\/p>\n Bankman-Fried is currently on trial for allegedly mishandling billions of dollars worth of customer funds as well as defrauding investors.<\/p>\n Yesterday, during the second day of the trial, Bankman-Fried and his attorneys requested<\/a> to use the US regulatory framework on crypto assets \u2013 or lack thereof \u2013 to argue that he technically didn\u2019t misuse any funds.<\/p>\n Bankman-Fried suggested that there aren\u2019t specifically any laws that bar crypto exchanges from using customer-deposited funds for whatever purpose they deem fit.<\/p>\n However, the prosecutors moved to preclude the argument as an irrelevant one that may confuse the jury.<\/p>\n A day before that, Bankman-Fried\u2019s attorneys attempted<\/a> to block specific investors and insiders from being able to testify against him.<\/p>\n According to a letter sent to the judge by the defendant\u2019s lawyers, certain witnesses should be barred because the motion for them to testify \u201cis premature and is devoid of the detail on which its requests could plausibly be based.\u201d<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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