The US authorities launched a new website to inform Sam Bankman-Fried aka SBF and FTX victims about the court proceedings regarding the case.
US federal prosecutors submitted documents to the United States Attorney’s Office for the Southern District of New York asking for authorization to establish a website to contact users who lost money in the FTX crash.
The request was granted the same day by the U.S. District Judge Lewis Kaplan, who is presiding over the FTX case. Kaplan stated, “Based on the number of victims who provide such notice, the court will rule on the manner in which victims will be heard at such proceedings.”
There were more than 1 million FTX users when counted and it would be “impractical,” according to the prosecution, to contact each defendant individually.
Prosecutors are supposed to inform victims in criminal cases prior to the plea or sentence process and give them enough time to offer testimony if they wish to be heard.
The website notes “If you believe that you may have been a victim of fraud by Samuel Bankman-Fried, a/k/a ‘SBF,’ please contact the victim/witness coordinator at the United States Attorney’s Office.”
FTX users are made aware of the eight criminal counts Bankman-Fried is being tried for as well as their legal rights as victims.
The latter includes the right to confer with the attorney defending the United States government, to be informed of public court proceedings, and about plea bargains of Bankman-Fried.
The FTX victims also have the right to be reasonably protected from the accused and the right to the proceedings free from any unreasonable delay.
Yesterday, Sam Bankman-Fried pleaded not guilty to the federal charges of defrauding the investors. The trial is scheduled to begin on October 2 and is anticipated to last four weeks.
