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SBF Trial: Grounded private jets worth combined $70M may be forfeit in Bankman-Fried trial

Press Releases Crypto News CryptoSlate SBF Trial: Grounded private jets worth combined $70M may be forfeit in Bankman-Fried trial

Federal prosecutors filed a forfeiture bill of particulars on Oct. 5 specifying assets subject to forfeiture in the criminal case against cryptocurrency executive Samuel Bankman-Fried.

The filing in New York federal court listed two private jets prosecutors say are subject to forfeiture — a Bombardier Global 5000 and an Embraer Legacy. Prosecutors said the aircraft are subject to seizure under criminal forfeiture laws due to their connection to alleged crimes by Bankman-Fried.

The Bombardier Global 5000 is a super-large business jet produced by Bombardier Aerospace. It was first introduced in 2005. It has a seating capacity of up to 17 passengers and can travel at high speeds, with a maximum cruise speed of Mach 0.89. Its cabin is designed for long-haul flights with a range of 5,200 nautical miles (9,630 km). The Global 5000 is equipped with the Bombardier Vision flight deck, featuring a comprehensive avionics suite.

The Embraer Legacy is a series of business jets produced by the Brazilian manufacturer Embraer. The series includes multiple models, but the Legacy 600/650 can carry up to 13 passengers in a three-zone cabin. It has a cruise speed of Mach 0.80 and a range of 3,900 nautical miles (7,223 km). This range allows non-stop flights between city pairs such as London and New York or Dubai and London. The Legacy series is known for its comfort, reliability, and economical operation.

According to AircraftBluebook, the price of a new Bombardier Global 5000 ranges from $27 to $50 million for models produced between 2017 and 2022. The cost of a jet depends on the production year.

The price of a new Embraer Legacy 650 ranges from $16.25 to $19.75 million for models produced between 2015 and 2019.

SBF’s plane flight history.

Bankman-Fried, 30, has pleaded not guilty to charges he cheated investors and looted customer deposits at his cryptocurrency exchange FTX. His trial Go to Source to See Full Article
Author: Liam ‘Akiba’ Wright

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