Sam Bankman-Fried Puts His Washington House For Sale After Fed Raid
The past few months have been sour for former billionaire and FTX’s ex-CEO Sam Bankman-Fried. Following FTX’s collapse, the crypto entrepreneur lost nearly all of his wealth.
Recent reports reveal that a Washington house linked to the ex-CEO is now up for sale for about $3.3 million. The property has reportedly served as the headquarter for Bankman-Fried’s political efforts.
Bankman-Fried Wants To Sell His House
The former billionaire is slowly losing support from the crypto industry and observers, with most of his assets seized. The mega house that he recently put for sale has five bathrooms and four bedrooms.
The value of the DC home listing has not changed since its purchase. According to reports, Gabe Bankman-Fried, Bankman-Fried’s brother, bought the house in April 2022 through his non-profit organization, Guarding Against Pandemics.
Meanwhile, the crypto entrepreneur owns more than one property. The month following his extradition from the Bahamas to the US, a judge released him on $250 million bail.
The bail was backed by the equity in his family’s $4 million house in California. Unfortunately, this is also the same house where he is currently under house arrest.
According to reports, influential Democrats and Republicans attended various parties at Bankman-Fried’s Washington home. Reports also alleged that he donated billions of dollars to several politicians before FTX’s collapse.
In recent months, lawmakers have faced growing pressure to return or dispose of donations that are now considered dirty money.
US Fed Seized $700M Worth Of Assets Belonging To Bankman-Fried
A court filing from last week revealed that the US Feds seized Bankman-Fried’s 55 million Robinhood shares. In addition, the agency is now in the custody of millions of dollars taken from different bank accounts linked with the FTX founder.
Prosecutors believe that he used customers’ funds to buy personal assets. As a result, the US SEC and CFTC have leveled charges of fraud and money laundering against him.
Bankman-Fried’s former employees, Caroline Ellison and Gary Wang have since pleaded guilty and are willing to comply with law enforcement agencies. However, Bankman-Fried claimed not guilty, with the court granting him a $250 million earlier in January.
Meanwhile, Bankman-Fried will be standing trial later this year in October. If the court finds him guilty, he could go to jail for 100 years.
According to reports, Bankman-Fried’s family has hired a 24 hours surveillance security since their son’s release. Last week, the family suffered an attack after a vehicle drove into a barricade outside their California home.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
