DOJ Targets Bankman-Fried’s Luxury Jets

The US Department of Justice (DOJ) listed two private jets
among the assets that could be seized in recovering money linked to the
collapse of Bankman-Fried’s cryptocurrency exchange, FTX. Bankman-Fried is
currently on trial in New York for fraud and conspiracy.

The court filing, submitted yesterday (Wednesday), provided
information about the jets. However, even though Sam Bankman-Fried supposedly
owned them, these expensive jets were never used by him. According to a report
from Coindesk, there are concerns about whether the aircraft was bought using
customers’ funds.

The DOJ maintains that both aircraft are subject to
forfeiture as assets acquired with fraudulently obtained proceeds. On the
contrary, FTX has claimed ownership, citing that the loans used for their
acquisition
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
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