Home Editor's Pick SBF’s Multi-Million Dollar Jets Set for Forfeiture

SBF’s Multi-Million Dollar Jets Set for Forfeiture


The U.S. Department of Justice (DOJ) recently announced plans to secure forfeiture of two multi-million dollar jets belonging to Senthil Rajagopalan, an executive accused of orchestrating a multi-million-dollar fraud scheme. Rajagpalan is accused of duping investors out of over $100 million through an elaborate Ponzi scheme, and the DOJ now plans to take control of the jets, valued at a combined $7 million, as part of its effort to recoup the stolen funds.

The DOJ obtained a court order authorizing the seizure of the aircraft, a Dassault Falcon 50 and Gulfstream GIVSP, which Rajagpalan owned and used for international travel. The U.S. Marshals Service would supervise the forfeiture process and the aircraft would eventually be sold and the proceeds returned to victims.

The case marks yet another instance of the DOJ’s continued effort to close major fraud cases and return stolen funds to victims. The DOJ has revealed that it is also pursuing civil forfeiture actions targeting other assets belonging to Rajagpalan, including real estate, luxury items, and other high-value assets.

The DOJ’s move is part of a larger push to hold individuals and corporations accountable and deter future financial crimes. The DOJ is sending a strong message to criminals that the government will not tolerate fraud and will pursue all available remedies to ensure that investors and victims are protected.

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