<p>The U.S. Department of Justice seized more than $456 million in Robinhood shares owned by FTX co-founders Sam Bankman-Fried and Gary Wang.</p> <p>A court filing <a href="https://www.pacermonitor.com/view/CUWLH7I/BlockFi_Inc__njbke-22-19361__0203.0.pdf?mcid=tGI4TONY">dated</a> Jan. 6 says the shares were seized because they constitute property involved in money laundering or wire fraud violations. </p> <p>A lawyer for the Justice Department last week <a href="https://www.theblock.co/post/199271/doj-seizing-millions-in-robinhood-shares-linked-to-ftx-lawyer-says">said</a> that the it was seizing hundreds of millions of dollars in Robinhood shares linked to FTX.<span class="Apple-converted-space"> </span>Bankman-Fried <a href="https://www.theblock.co/post/199697/sam-bankman-fried-ftx-debtors-robinhood-shares">responded</a> by filing a court action to block debtors from taking control of his stake in Robinhood.</p> <p>The disgraced former CEO owns 90% of Emergent Fidelity Technologies, an entity that owns more than 50 million shares in Robinhood stock. Bankman-Fried stepped down as FTX CEO when the firm filed for bankruptcy protection in November.</p> <br /><span class="copyright"><p>Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.</p> <p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>