Robinhood Markets shares to be seized
2023.01.04 15:26
Robinhood Markets shares to be seized
Budrigannews.com – Shares of Robinhood Markets Inc. (NASDAQ:) are currently being seized by prosecutors in the United States. U.S. attorneys told a judge on Wednesday that that were allegedly owned by an entity controlled by Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange.
A bankruptcy judge in the United States was informed by the prosecution that they are currently working to seize shares of the well-known securities trading app Robinhood. These shares had been pledged as loan collateral by Alameda Research, the crypto hedge fund that Bankman-Fried established.
After customers rushed to withdraw funds, Alameda and its affiliate FTX filed for bankruptcy in the United States in November.
Bankman-Fried has pleaded not guilty to fraud for causing FTX customers, investors, and lenders to lose potentially billions of dollars.
Eikon data indicate that Emergent Fidelity Technologies Ltd. owned approximately 56 million shares, or 7.42 percent, of Robinhood stock.
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