Prosecutors Seize $50 Million of Sam Bankman-Fried's Assets in Small Washington Bank

Federal prosecutors have seized $50 million that Sam Bankman-Fried held in the one-branch Farmington State Bank, a small Washington-based bank. This seizure is part of a larger effort by federal authorities who have confiscated approximately $700 million worth of assets belonging to the disgraced FTX founder Sam Bankman-Fried. The Justice Department has seized more than $170 million in cash from multiple accounts associated with disgraced FTX co-founder Sam Bankman-Fried, according to court filings.

$50 Million Seized from Farmington State Bank

A court filing published on Friday has revealed that federal prosecutors seized 50 million that Sam Bankman-Fried held in a small Washington bank. The U.S. prosecutors have seized nearly $50 million in cash connected to Sam Bankman-Fried, the disgraced founder and former CEO. Federal prosecutors seized $50 million from the one-branch Farmington State Bank that they allege in court records were deposited there as part of FTX operations.

Total SBF Asset Seizures Approach $700 Million

The $50 million seized from the small Washington bank is only a portion of the total assets seized from Bankman-Fried. Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to reports. This includes at least three accounts directly linked to SBF.

The one-branch Farmington State Bank, where the $50 million was held, reportedly had only three employees before these significant deposits were made, raising further questions about the source and legitimacy of the funds. The investigation into FTX and Sam Bankman-Fried's activities continues.