U.S. Department of Justice Calls on Victims of Sam Bankman-Fried Fraud to Come Forward

The U.S. Department of Justice (DOJ) has asked victims of former FTX CEO Sam Bankman-Fried’s (SBF) fraud to come forward. The former FTX executive is accused of “defrauded FTX.com customers, FTX.com investors and Alameda Research lenders“, the Justice Department said.

DOJ urges SBF fraud victims to come forward

The U.S. Department of Justice (DOJ) reached out to victims of the Sam Bankman-Fried (SBF) fraud via its website Friday, explaining their rights and asking them to come forward. Sam Bankman-Fried co-founded FTX and was its CEO when the crypto-currency exchange filed for bankruptcy in November of last year.

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The DOJ wrote:

If you believe you have been a victim of fraud by Samuel Bankman-Fried, aka “SBF,” please contact the Victim/Witness Coordinator at the U.S. Attorney’s Office … for assistance in verifying if you are a victim in this case.

The Department of Justice explained that on December 13, 2022, “an eight-count indictment was unsealed charging Samuel Bankman-Fried with defrauding FTX.com customers, FTX.com investors and Alameda Research lenders“.

The DOJ detailed:”Bankman-Fried is charged with wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States and to violate campaign finance laws.

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The Department of Justice is asking victims of the Sam Bankman-Fried fraud to come forward.
List of federal crime victims’ rights identified by the Department of Justice. Source: DOJ

Prosecutors are required by federal law to contact potential crime victims to inform them of their rights.

However, in court papers filed Friday, federal prosecutors in Manhattan asked U.S. District Judge Lewis A. Kaplan, who was assigned to the SBF case, for permission to use a website to inform victims, rather than contacting each one individually. They said the collapsed crypto-currency exchange FTX may owe money to more than a million people, making it “impractical” to contact each person.

Bankman-Fried, who is currently at his parents’ house under a $250 billion bond, has pleaded not guilty to fraud charges. Meanwhile, the DOJ has moved to seize Robinhood stock worth about $460 million tied to the former FTX boss.

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