Robinhood plans to buy back 55M shares Sam Bankman-Fried purchased last year

Robinhood Markets Inc. plans to buy back most or all of the remaining shares a company controlled by Sam Bankman-Fried purchased from it last May, in a move that could cost the online brokerage more than $575 million.

The shares are a part of the fraud case the U.S. government has filed against Bankman-Fried, the co-founder and former CEO of bankrupt cryptocurrency exchange operator FTX Trading Ltd. Bankman-Fried has admitted borrowing money from Alameda Research, the trading firm he owned whose…

Previous Toymaker hosting warehouse sale at new Buckeye facility
Next Pizza My Heart's owner represented hard-hit Capitola businesses at Pres. Biden's State of the Union speech