PANews reported on October 4 that according to The Block, US prosecutors reiterated on Wednesday that the existing legal framework is sufficient to charge FTX founder Sam Bankman-Fried (SBF) with fraud-related violations. The Department of Justice rejected SBF's previous argument that "there is a clear lack of relevant laws or guidance, which is directly related to whether the alleged use of customer deposits constitutes misappropriation rather than permitted business practices." The Department of Justice added that while the existence of laws may be relevant to establishing a statutory duty of care, the lack of supervision has nothing to do with whether the victim entrusted the money to the defendant for safekeeping.