Hey Peeps!

According to a report by CNBC on January 3rd, the U.S. Attorney's Office for the Southern District of New York has announced the creation of a Task Force.

The FTX Task Force's mission is to "to trace and recover" customer's assets and to pursue further investigations and prosecutions against FTX. 

This announcement came immediately after FTX founder Sam Bankman-Fried appeared in U.S. District Court in New York and pled Not Guilty to the 8 charges currently filed against him.  

These charges are "conspiracy to commit wire fraud and securities fraud, individual charges of securities fraud and wire fraud, money laundering, and conspiracy to avoid campaign finance regulations". 

"The Southern District of New York is working around the clock to respond to the implosion of FTX…It is an all-hands-on-deck moment. We are launching the SDNY FTX Task Force to ensure that this urgent work continues, powered by all of SDNY’s resources and expertise until justice is done."

- Damian Williams, U.S. Attorney for SDNY

The CNBC report mentions that this FTX Task Force will be led by Andrea Griswold, and will be comprised of prosecutors from the "Securities and Commodities Fraud, Public Corruption, and Money Laundering and Transnational Criminal Enterprises units".

Apparently the Task Force may be able to rely on the assistance of Caroline Ellison and Gary Wang, as they have both pled Guilty to their charges and are cooperating with prosecutors. 

This brings me a little more hope that more funds can be recovered and returned to affected customers as soon as possible. 

Do you think this will be effective at getting customers money back?

Is SBF have a rainy day fund hidden away somewhere still?

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