Website Launched SBF victims: Prosecutors Urges for Emails

• US prosecutors launched a website for SBF victims on Friday. 
• Federal prosecutors are now to use only the website to contact victims.
• The US Attorney suggests more indictments to follow.  

In a complicated case such as the FTX collapse, the direct evidence regarding the case may not be enough; hence testimonies of the victims strengthen the arguments. Probably due to this, the United States Government launched a website facilitating SBF victims to communicate with law enforcement. 

Now the federal prosecutors had to use the website rather than contacting the victims personally, as authorized by US District Judge Lewis Kaplan in Manhattan late Friday night. 

This step would speed up the process given the scale of the FTX saga; contacting each victim and getting their testimony alone could take years. Also, many victims do not come forward, citing legal trouble or other factors, this website could help them come forward, and all these so gained testimonies would greatly help in the case. The website went live on Friday afternoon.  

It is required by the prosecutors under Federal law to contact the victims to inform them of their rights, which include the right to obtain restitution, be protected from defendants, or be heard in court. 

The testimonies received on the website may or may not be anonymous but will surely help analyze the depth of the deceit and lawyers to make a strong case against Sam Bankman-Fried. 

Thirty years old, former crypto white knight Sam Bankman-Fried had pleaded not guilty to all eight counts of wire fraud and conspiracy. The hearing date is speculated to be in October; till then, prosecutors would have enough time to gather as much evidence and testimonies as possible. 

Although such white-collar crimes have a history of being settled outside the court, now as Gary Wang and Caroline Ellison had pleaded guilty and were working as witnesses, there is little room for SBF to breathe. 

US Attorneys have been saying that more indictments would follow, thereby increasing the difficulties of Sam Bankman-Fried. 

As the layers of the FTX-saga are unfolding, many shocking pieces of information are coming out. Major of them being that Joe Bankman-Fried, SBF’s father, on the experience of a Tax Law course from Stanford, moved Facebook shares into IRA, making them billions. 

Joe Bankman was on FTX payroll, and his parents had a $14 million worth holiday home for themselves. Caroline had confirmed that the plans laid out by Joe were with the intent of money laundering and robbing people. 

Both of Caroline’s parents were MIT economists and shared the same office of which Gary Gelsler was a part, meaning that she knew how the system worked. Moreover, SBF was also an MIT pass-out and probably knew her parents and Gary Gensler beforehand. 

Although these connections indicate the possibility of a planned sham to defraud investors and gain unimaginable money in the process, nothing can be said for certain until the final stroke of the gavel. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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