FTX Fraud Victims to Get a Website for Court Proceeding Communication & Federal Rights – Coinpedia Fintech News

US Government is planning to launch a website for FTX U.S victims to notify them regarding their court proceedings and federal rights. Lewis A Kaplan has been appointed as the District Judge for this case. Even though the judge did not make a direct comment on the launch of the website, it is still under consideration by the Federal Court.

Federal prosecutors have 7 charges against Sam Bankman-Fried (SBF). It includes 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 violate campaign finance laws. SBF has pleaded not guilty to these charges even though he admitted to mismanagement of the funds of his company. 

Ever since FTX collapse, more than one million FTX users have been affected. There are mainly 3 categories of victims – customers of FTX.com,  investors of FTX.com, and lenders of Alameda Research. The U.S. prosecutors notified the District Judge that it is impractical to contact one million users by email or phone. Hence, they have requested the Judge to launch a website for court proceeding notifications and further announcements related to the case. 

Meanwhile, the victims can send emails to Victim/ Witness Coordinator – Wendy Olsen Clancy on the email [email protected] regarding the loses and claims for justice. These emails will be monitored individually and replied to if the coordinator finds that he/ she is a genuine victim. The verification of 1 million victims is going to be a time-consuming task but the necessary measures have been taken to make the process smooth. 

Federal crime victims have the following rights :