While Sam Bankman-Fried has just pleaded not guilty to the various charges against him, the Manhattan prosecutor has decided to set up a special unit responsible for tracing the funds of FTX clients.
“Until justice is done” for FTX customers
A special unit fully dedicated to tracing funds belonging to harmed FTX clients will be put in place, according to the Manhattan District Attorney’s Office, in the United States.
More generally, this unit will be responsible for ensuring the smooth running of the investigations and proceedings in progress concerning the bankrupt exchange, whose past management continues to prove increasingly bewildering.
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The Manhattan District Attorney was firm in his desire to shed light on the FTX affair:
“The Southern District of New York is working tirelessly to respond to the FTX implosion. This is a time when everyone is on deck. […] We are launching the SDNY FTX Task Force to ensure that this urgent work continues, fueled by all SDNY resources and expertise, until justice is served. »
The creation of this unit comes shortly after Caroline Ellison and Gary Wangwho both held senior positions within the FTX empire, pleaded guilty to the counts against them.
They have also agreed to cooperate with the justice in its investigation of FTX and Sam Bankman-Fried.
👉 To deepen – FTX: the answers to all your questions about the case that shakes cryptocurrencies
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A complicated affair for SBF
This new unit will be led by Andrea Griswoldthe first assistant district attorney in Manhattan, who notably participated in the investigation regarding the Terra ecosystem and the collapse of the UST.
She will be accompanied by various entities belonging to the Southern District of New York (SDNY), including the Securities and Commodity Fraud Unit, the Public Corruption Unit and the Money Laundering Unit.
Until today, it was the respective prosecutors of each unit mentioned above who were in charge of the case. They will therefore now operate jointly under the direction of the assistant to the prosecutor.
Sam Bankman-Fried, the former CEO of FTX, recently pleaded not guilty to the various charges he faces. His trial is scheduled for October 2, which gives the various bodies responsible for the investigation some respite.
According to estimates made when FTX filed for bankruptcy at the beginning of last November, the exchange has at least $10 billion in debt and is indebted to at least 100,000 creditors.
👉 Read also – Crash of Terra: the co-founder of Three Arrows Capital accuses Digital Currency Group and FTX
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