Will the FTX trick land SBF in jail soon? : Complaint of the Ministry of Justice. The Justice Department said there was enough evidence to support an internal investigation into fraud allegations against FTX and Top Team.
Sam Bankman-Fried SBF FTX News: Amidst calls for a full investigation into the failure of FTX under the leadership of Sam Bankman-Fried, the United States Department of Justice has called for such an investigation. In a motion filed on Thursday, the department asked the court for an order to appoint an inspector for the investigation. The petition also states that there is evidence that FTX engaged in fraudulent practices.
Will SBF fraud detection lead to jail time?
The department’s complaint comes amid calls for FTX’s founder to be jailed as the crypto exchange faces a financial crisis. Recently, crypto industry experts like XRP Advocate predicted that SBF will go to jail. He said it was only a matter of time before the SBF was closed. John Deaton said that FTX’s offense was considered robbery. Stating that specific evidence was required, he said there was already enough evidence to imprison SBF.
The Justice Department’s appeal suggested that an internal investigation into the fraud allegations could be ordered. There is good reason to believe that Sam Bankman-Fried and other managers have misused accounts receivable or involved in fraud, he said. The department has requested permission from the inspector to investigate these matters charges.
The petition further states, “An examination is preferable to an internal investigation under the facts of these cases because the findings and conclusions of the examination will be public and transparent, which is especially important because of the wider implications that FTX’s collapse may have for the crypto industry.”
So far, crypto prices have not recovered from the crypto crash that led to the fall of FTX in November 2022. At the time of writing, the price of Bitcoin (BTC) stands at $16,948, down 0.74% in the last 24 hours, according to the price monitoring platform CoinMarketCap.