The United States Attorney’s Office for the Southern District of New York (SDNY) has actually formed the FTX Task Force to “trace and recover” missing consumer funds, along with handle investigations and prosecutions associated with the exchange’s collapse.

The announcement was available in a statement from U.S. Attorney Damian Williams, who is the federal prosecutor in the FTX case involving founder Sam Bankman-Fried. Charges from the Manhattan lawyer’s office versus Bankman-Fried consist of wire and securities fraud, conspiracy to dedicate wire and securities fraud, money laundering and infraction of project financing laws.

“The Southern District of New York is working all the time to respond to the implosion of FTX,” said Williams in the statement, adding:

“It’s an all-hands-on-deck-moment.”

“We are launching the SDNY FTX Task Force to make sure that this immediate work continues, powered by all of SDNY’s resources and know-how till justice is done.”

According to the SDNY, the job force’s team consists of senior prosecutors from its securities and products scams, public corruption, cash laundering and global crime business systems– which will be accountable for the “examination and prosecution of matters related to the FTX collapse.”

Meanwhile, its “asset forfeit and cyber capabilities” will be utilized to “trace and recuperate” the billions of dollars worth of missing consumer funds, it added.

A comparable effort had currently been underway by FTX’s new management, which hired monetary advisory business AlixPartners in December to carry out “asset-tracing” for FTX’s missing out on digital assets.Related: Sam Bankman-Fried gets in innocent plea for all counts in federal court The Manhattan U.S. Attorney’s Office reportedly first began its probe of FTX’s collapse shortly after the company declared bankruptcy on Nov. 11. According to its site, the U.S. Attorney’s Office for the Southern District of New York is understood for prosecuting cases including the violation of federal laws and examines a broad variety of criminal conduct “even when the conduct develops in

distant locations.”FTX and crucial executives including Bankman-Fried, co-founder Gary Wang and Alameda Research former CEO Caroline Ellison had given that September 2021 been running out of the Bahamas, where a number of the supposed criminal offenses are believed to have actually been committed. On Jan. 3, Bankman-Fried pleaded”not guilty”to all 8 criminal charges connected to FTX’s implosion– which brings a total of 115 years of jail for the FTX creator if he is founded guilty. Last month, Wang and Ellison pleaded guilty to federal scams charges connecting to their role in the collapse of the FTX exchange.