Prosecutors Target FTX Founder Bankman-Fried's Luxury Jets In DOJ Forfeiture Action
Portfolio Pulse from Murtuza Merchant
U.S. prosecutors are targeting two luxury aircraft associated with former FTX (CRYPTO: FTT) CEO and founder Sam Bankman-Fried for potential seizure. The Department of Justice's forfeiture bill identifies a Bombardier Global 5000 BD-700-1A11 aircraft and an Embraer Legacy EMB-135BJ aircraft as potential assets for seizure. The potential forfeiture is in line with various U.S. codes pertaining to property subject to confiscation as a result of offenses.
October 05, 2023 | 2:27 pm
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The legal issues surrounding the former CEO of FTX could potentially impact the value of FTT in the short term.
Legal issues surrounding a company's leadership can often lead to uncertainty and volatility in the market, potentially leading to a decrease in the value of the company's assets, in this case, FTT.
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