Authorities clip SBF’s wings, confiscate 2 private jets worth more than a combined $28 million
As Sam Bankman-Fried’s trial enters its third day, the government is making sure he and his family stay grounded.
To do so, authorities have confiscated two private jets, according to a document filed with the U.S. District Court for the Southern District of New York, where SBF is being tried. The first seized plane, a Bombardier Global 5000, is reportedly worth $15.9 million, and the second, an Embraer Legacy 600, is worth about $12.5 million, according to a bankruptcy court filing from September. In the aftermath of FTX's bankruptcy filing, several parties are disputing who owns the now-confiscated jets.
The Bombardier is a large business jet with a seating capacity of 13, according to a former listing. The jet was completed in 2009 and has a range of about 6,156 miles, which is just under the distance between New York City and Tokyo. Although SBF’s version had merely a wardrobe and a storage cabinet, the plane can be modified to include amenities such as a movie theater and a bedroom.
Meanwhile, the Embraer Legacy has a range of 4,488 miles, which is just over the distance between New York City and Rome. The jet is slightly smaller than the Bombardier, but can feature a kitchen area that includes a microwave, a conventional oven, even a refrigerator, according to the website of Brazil-based Embraer.
A court filing claims that the two private jets were bought via a “handshake” loan from FTX to a Bahamian company for the whole $28 million and change, Business Insider reported. While SBF reportedly never flew on either plane, according to anonymous sources cited by BI, Bankman-Fried chartered several other private flights, which, according to a court filing related to FTX’s bankruptcy case, cost the company more than $15 million.
This story was originally featured on Fortune.com
