Earlier today, several FTX victims tweeted that they are not fully aware of what is going on with SBF’s court hearing. They claimed they cannot rely on traditional means to get all the information.
To address these concerns, the regulators have taken immediate steps. The Attorney officer for “The Southern District of New York” has recently launched the official application on its webpage.
All the alleged FTX victims can fill out the form and ask for access to the most recent court proceedings.
Just a day ago, Danielle Sassoon, the assistant U.S. Attorney, asked for permission from the Federal court of New York.
In his application, he asked the court to allow the Attorney’s office to inform the alleged victims of what was happening in the court.
He further added that it is the right of all those who have lost millions due to the Fraud committed against them by Sam Bankman-Fried.
Sassoon Shared His Opinion on the Matter
Sassoon said that the Attorney’s office to the court would soon issue a press release. The press release will inform all the victims about the “alternative plan” to keep them, victims, up to date.
The Federal government has allowed the Attorney to launch an official page on its website. The alleged victims can submit online notices and request information through this website. The page has already been published on Attorney’s official website.
As per the official numbers, over 1 million people have suffered from the demise of FTX, and they are seeking compensation.
The number of individuals who have suffered from the demise of FTX is so high that it’s almost impossible for the New York court’s Attorney to inform all these individuals through traditional means of communication.
Moreover, if the Attorney’s office relied on the traditional methods of communication to notify the alleged victims, it would take months to do that, and practically it is an impossible step to take.
The Online Notice on New York’s Court Page Says That Victim Should Contact Attorney’s Office
Those victims who submit an online application to access the information will receive the court’s notification.
Through this notification, they will be informed about the eight criminal allegations being identified against Sam Bankman-Fried. Moreover, victims will also know the exact status of every allegation SBF is facing in court.
Legal experts across the U.S. have said that it is the basic right of those individuals who have lost millions due to the fall of FTX to know how the legal system is working to help them.
The legal experts also voiced that the public should know about the nature of plea bargains on the table.
Sam Bankman-Fried, who currently paid $25 million for his Bail, is being released from regulatory custody, but he can’t move aboard until he faces all these allegations.
Moreover, the legal team of SBF, along with filing the Bail, they are filed SBF’s plea of not being guilty in a single allegation raised against him.
The U.S. SEC and CFTC Think Otherwise
The officials of both U.S. financial regulatory institutes, SEC and CFTC, believe that SBF wilfully committed these frauds and also accused the former CEO of FTX used investors’ money for his political ambitions.
After their detailed investigations, the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission have published clear financial charges against the ex-CEO of FTX and the former CEO of Alameda Research.
Gary Wang, the ex-CEO of Alameda Research, had already pled guilty to the charges being raised against him.
As both of these famous personalities are fighting for the honor of their names, they have yet to be found guilty. Moreover, they are fighting bankruptcy and criminal charges separately.
In the case, Sam Bankman-Fried’s case, the next public hearing is scheduled for 11th January. The U.S. Department of Justice is planning to freeze Robinhood’s assets.
Robinhood platform is currently under the radar as its digital assets, worth nearly $450 million, are still connected with FTX.