The former SEC chief said the Binance criminal indictment may have already been filed confidentially.
US Justice Department May Have Prepared a X-Files for Binance, According to Former SEC Chair
John Reed Stark argues that the United States Department of Justice will or has prepared a criminal indictment against Binance.
“There is ample indication that the US Department of Justice is or is preparing a criminal indictment against Binance,” he tweeted.
Why US DOJ Will File, Or Has Already Filed Under Seal, a Binance-Related Criminal Indictment
Having worked in the US SEC Enforcement Division for almost 20 years and managed many US SEC-DOJ joint prosecutions, IMHO, there exist a litany of indicators that US DOJ will file, or… pic.twitter.com/VSbDKUh5EF
— John Reed Stark (@JohnReedStark) June 11, 2023
“To me, the CFTC and SEC complaints read more like criminal indictments filled with allegations of fraud, deception, obstruction of justice and money laundering,” Reed added.
Meanwhile, a 76-page Commodities and Futures Commission complaint alleges that some parties to the exchange are aware of using the exchange for criminal activities.
“Neither the CFTC nor the SEC case focuses heavily on money laundering,” Reed said. According to him, "this is the designated and reserved area of prosecution for criminal prosecution of the US Department of Justice in relation to Binance."
Reed concluded, "In my view, the US Department of Justice is working with the SEC, the CFTC, and multiple whistleblowers, and the next step will be to file or expose criminal charges against Binance."
As Binance.US prepares for legal defense against US regulators, it has added four attorneys from Milbank LLP to its legal team.
*Not investment advice.
