Disgraced FTX founder Sam Bankman-Fried held just under $50 million in an account with a little known bank located in rural Washington state, according to a court filing published Friday.
Prosecutors said that on January 4 they seized $49,999,500 that Bankman-Fried had deposited with Farmington State Bank, as part of an effort to track down nearly $700 million worth of assets for forfeiture.
Bankman-Fried's Alameda Research trading firm bought an $11.5 million stake in Farmington in March last year – which accounted for more than double the bank's entire net worth at the time.
As well as the cash he had deposited with Farmington, they have seized just over $100 million in an account with the crypto-focused bank Silvergate Capital and $21 million with the brokerage firm ED&F Man Capital Markets.
US authorities also seized around 55 million Robinhood shares, worth $526 million as of Friday's closing bell, and are investigating crypto and cash held by Bankman-Fried in three accounts with rival crypto exchange Binance.
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