Prosecutors say Sam Bankman-Fried tried to obscure his crimes with Robinhood's stock | CNN Business

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Prosecutors say Sam Bankman-Fried tried to obscure his crimes with Robinhood's stock | CNN Business
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US federal prosecutors have said FTX founder Sam Bankman-Fried’s efforts to control about $500 million worth of Robinhood shares last year indicates steps the former crypto entrepreneur has taken to “obscure” his alleged crimes

Federal prosecutors said FTX founder Sam Bankman-Fried’s efforts to control about $500 million worth of Robinhood shares last year indicates steps the former crypto entrepreneur has taken to “obscure” his alleged crimes. Prosecutors have since seized the stock and other assets totaling more than $700 million after Bankman-Fried laid claim to the shares saying he legitimately bought them and needed the money to defend against the criminal charges he’s facing.

They also want to restrict him from using encrypted messaging apps after he previously used them at FTX with the auto-delete feature turned on. Bankman-Fried’s lawyers asked for the limitations of his contact with FTX assets be lifted since prosecutors have not proven he was behind a mysterious transfer. They also proposed some limits to his contact with former employees.

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