Exchange Watch

Prosecution Claims Sam Bankman-Fried Jets Are Liable to Forfeiture


The two aircraft that Bankman-Fried purchased through FTX are now considered forfeiture-eligible property, according to the U.S. Department of Justice, as a result of the accusations levied against the former CEO.

According to a document submitted on October 4 by the US Department of Justice (DOJ), Sam “SBF” Bankman-Fried’s two expensive luxury aircraft worth several million dollars are now susceptible to forfeiture.

CryptoCaster Quick Check:

According to the document, SBF’s assets may be forfeited as a result of the “offenses described in Counts One through Four and Seven of Indictment 22 Cr. 673 (LAK)”.


A Bombardier Global and an Embraer Legacy were among the mentioned jets. According to records submitted on September 21 with the Delaware Bankruptcy Court, these two aircraft are currently at the center of an ownership dispute between the government, SBF’s former bitcoin exchange FTX, and the aviation firms operating the jets Island Air Capital (IAC).

Stay in the know on crypto by frequently visiting Crypto News Today

The government has argued that both aircraft are liable to forfeiture since they were bought with fraudulent money, while FTX claims that the loans used to buy the jets were not accurately documented.

The U.S. Commodity Futures Trading Commission (CFTC) filed a complaint in December 2022 against SBF, FTX, and Alameda Research, charging the latter two with breaking the Commodity Exchange Act. The CFTC made allegations against SBF, claiming that it “used FTX customer funds for a variety of personal expenditures,” including the purchase of private planes.

Follow GappyCoin PreSale on Twitter, and ReCap for information and more.

In connection with the collapse of FTX in November 2022, Bankman-Fried is currently on trial for criminal and fraud accusations. SBF is being heard by Judge Lewis Kaplan after entering a not guilty plea to all counts.

In connection with the collapse of FTX in November 2022, Bankman-Fried is currently on trial for criminal and fraud accusations. SBF is being heard by Judge Lewis Kaplan after entering a not guilty plea to all counts.


Opening statements from the prosecution and defense were heard the following day, on October 4, after the trial’s jury selection on October 3.

In its opening statement, the DOJ claimed that Bankman-Fried deceived investors and consumers on purpose in order to amass wealth and build his firm, while the defense claimed that SBF was just an aspiring entrepreneur whose plans “didn’t work out.”CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like