According to court records viewed by CNBC, the US Government has taken nearly $700 million from Sam Bankman-Fried (SBF), the former FTX CEO and co-founder. The majority of the money came from Bankman-Fried’s 56,273,269 shares of Robinhood Markets Inc. (Nasdaq: HOOD). The value of the Hood shares on Jan. 20, 2023, at current exchange rates, is $526 million or more.

Furthermore, nearly $56 million held in four bank accounts was also seized, according to CNBC reporters Rohan Goswami and MacKenzie Sigalos. Three accounts allegedly held $6 million each at Silvergate Bank, and one account allegedly held $50 million at Moonstone Bank. In total, $171 million in cash was taken by the federal government from Bankman-Fried. On Jan. 19, 2023, Moonstone Bank announced that it would formally leave the cryptocurrency industry.

Through FBH, Moonstone Bank’s holding company, Alameda Research made a $11.5 million investment in Moonstone Bank, also known as Farmington State Bank. The $697 million in assets, which primarily consist of Robinhood shares, were allegedly purchased with money taken from FTX customers, according to federal prosecutors. Sigalos stated on Friday that Bankman-Fried maintains his innocence and has “denied misappropriating customer assets.”

Federal agents also seized SBF funds that were stored on the cryptocurrency exchanges Binance and Binance US. The U.S. Department of Justice (DOJ) started the process after the U.S. government announced plans to seize the Robinhood shares during the first week of January 2023.

Bankman-Fried made an effort to reclaim ownership of the shares, stating that he required the funds to cover legal costs. The U.S. government has the authority to seize money from both charged suspects awaiting trial and from citizens suspected of wrongdoing but not necessarily charged with a crime. The assets that were seized are not, in the opinion of federal prosecutors, part of the bankruptcy estate.