The Department of Justice has said that SBF’s compliance to other regulations is not evidence of general good faith

The Department of Justice makes it clear that the lack of detailed rules is not a defense against claims of misappropriation.

Existing statutes are enough to accuse disgraced FTX founder Sam Bankman-Fried of fraudulent acts, the U.S. Department of Justice (DOJ) said in a letter.

The Department of Justice’s letter to Judge Lewis Kaplan emphasized the defendant’s motion for a rehearing of the court’s previous rulings.

The government is certain that its case against Bankman-Fried, also known as SBF, is well-founded, especially in regards to the misuse of client cash and their subsequent use in political campaigns through straw contributors.

The crypto sector has been anticipating the Department of Justice’s position as it relates to regulatory issues ahead of Benzinga’s Future of Digital Assets conference on November 14.

Despite earlier reports, the DOJ has stated that they would not contend that Bankman-Fried’s alleged straw donation scheme violates election laws.

Instead, the evidence will be used to show that the money wasn’t spent in accordance with what he said it would be used for.

The DOJ also responded to the defendant’s claims that US rules are irrelevant or that FTX.US is in compliance with them.

The government contends that the lack of detailed rules does not relieve the defendant of responsibility for the victims’ money.

The letter also addressed the defendant’s charity work, indicating that the government has no problems with the defendant providing evidence of the defendant’s charitable acts, provided that it is submitted for the appropriate purpose and not as proof of character.

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