TheBlock reports that after former FTX CEO Sam Bankman-Fried was criminally convicted, assets linked to his crimes (including cryptocurrency tokens, private jets, in bank accounts, etc.) 11 billion USD was confiscated in January. Now, three separate groups – the assets of FTX debtors, a group of creditors and an offshore entity created by Sam – have competing claims to the seized assets, arguing that they belong to them legally.

Debtor Asset Management claims in the filing that although Bankman-Fried was ordered to forfeit the assets, they never belonged to him in the first place because they were the result of his criminal conduct. “As a result of the testing process, all specified assets are held in the name of the Debtor Entity or FTX Digital and/or are funded entirely with the assets of the Debtor,” the filing states .

Detail:

TheBlock reports that after former FTX CEO Sam Bankman-Fried was criminally convicted, assets linked to his crimes (including cryptocurrency tokens, private jets, in bank accounts, etc.) 11 billion USD was confiscated in January. Now, three separate groups – the assets of FTX debtors, a group of creditors and an offshore entity created by Sam – have competing claims to the seized assets, arguing that they belong to them legally.

Debtor Asset Management claims in the filing that although Bankman-Fried was ordered to forfeit the assets, they never belonged to him in the first place because they were the result of his criminal conduct. “As a result of the testing process, all specified assets are held in the name of the Debtor Entity or FTX Digital and/or are funded entirely with the assets of the Debtor,” the filing states .

Detail: https://www.theblock.co/post/300315/three-separate-groups-file-competing-claims-for-bankman-frieds-forfeited-assets-in-ftx-bankruptcy