Prosecution Targets Sam Bankman-Fried's Jets for Forfeiture

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Source: Cointelegraph
Prosecution Targets Sam Bankman-Fried's Jets for Forfeiture
Photo: Cointelegraph
TL;DR Summary

The U.S. Department of Justice has filed a document stating that the two luxury jets purchased by former FTX CEO Sam Bankman-Fried are subject to forfeiture due to charges brought against him. The government argues that the aircraft were purchased with fraudulent funds, while FTX claims the loans used for the purchases were not documented. Bankman-Fried is currently standing trial for multiple charges related to the fall of FTX, with the prosecution portraying him as deliberately deceiving customers and investors, while his defense argues he is a young entrepreneur whose plans didn't work out.

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