U.S. moves to seize $460M Robinhood stake linked to Sam Bankman-Fried

Re:U.S. moves to seize $460M Robinhood stake linked to Sam B... by marcinzm on Thursday January 05, 2023 @12:12PM (#34262996)

I mean you could just read the article:

"The Justice Department said Wednesday that has moved to seize millions of shares of Robinhood, the popular stock-trading app, whose ownership is disputed by several parties, including Bankman-Fried himself, his bankrupt crypto exchange FTX and another bankrupt crypto company.

Because the competing claims, FTX filed a motion earlier this month to the Delaware bankruptcy court to keep the assets frozen until the court “can resolve the issues in a manner that is fair to all creditors of the debtors.”"

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Re:U.S. moves to seize $460M Robinhood stake linked to Sam B... by JumpCrisscross on Thursday January 05, 2023 @12:14PM (#34263031)

The TL; DR being the DoJ moving to seize is the start of due process.

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Re:U.S. moves to seize $460M Robinhood stake linked to Sam B... by dehrmann on Thursday January 05, 2023 @12:15PM (#34263040)

That's still a little weird because usually personal assets are shielded from issues a company has (at least for LLCs).

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Re:U.S. moves to seize $460M Robinhood stake linked to Sam B... by marcinzm on Thursday January 05, 2023 @12:16PM (#34263064)

As the quoted text notes, FTX claims these are it's assets and until that is resolved is asking the courts for them to be frozen.

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Re:U.S. moves to seize $460M Robinhood stake linked to Sam B... by quickthrowman on Thursday January 05, 2023 @02:16PM (#34264983)

It’s a bit different when you borrow $500M from your (now bankrupt) company to purchase the ‘personal assets’.

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