The U.S. Department of Justice proposed to the examining bankruptcy of FTX court to appoint an independent expert to investigate potential violations that could have led to the collapse of the Bitcoin exchange.
\”The specialist may and should examine serious allegations of fraud, dishonesty, incompetence, improper acts and mismanagement,\” the statement said.
There are serious grounds to believe that the actions of Sam Bankman-Fried’s team led to \”the fastest major corporate collapse in American history,\” said Andrew R. Vara, a Justice Department trustee.
The official stressed that an expert examination is preferable to an investigation.
\”The first point can be disclosed, which is particularly important given the broader consequences that the collapse of FTX could have for the industry,\” he explained.
Separate investigations into the activities of the Bitcoin exchange and affiliated companies are being conducted by the CFTC, SEC and the U.S. DOJ, according to Bloomberg.
In November, the Bahamas’ senator, attorney general and minister for legal affairs Ryan Pinder assured that the circumstances of FTX’s collapse would be examined.
Fortune lawyers previously stated that the U.S. DOJ has all that is necessary to bring criminal charges against Bankman-Fried and other executives of the bankrupt exchange.
In a note, the new FTX CEO John Rayaccused his predecessor and his team of concealing the illicit use of client funds and of secretly exempting Alameda Research from certain aspects of the platform’s auto-liquidation protocol.
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