The US Department of Justice has announced the possible confiscation of two luxury jets purchased by Sam Bankman-Freed (SBF) through the collapsed company FTX, as stated in a document released by the department.
According to legal representatives, the Bombardier Global 5000 BD-700-1A11 and Embraer Legacy EMB-135BJ were bought with fraudulent funds.
However, FTX has claimed that the loans used for the aircraft purchase were properly documented.
The ownership of the planes is currently being disputed by Island Air Capital (IAC), a Bahamian operator.
IAC claims that they purchased the jets for $15.9 million and $12.5 million respectively, using funds provided by the exchange.
Records show that the planes were acquired in March and August of 2022, according to court documents.
IAC officials have stated that they were not aware of any fraudulent activity on the part of FTX, nor did they have any reason to question the source of the funds used for the purchase.
It should be noted that the trial of Sam Bankman-Fried began on October 3, as he faces seven criminal charges, including conspiracy to commit fraud.
