A New York decide has granted a request from prosecutors to defer civil proceedings in opposition to Sam Bankman-Fried from the Commodities Futures Buying and selling Fee and the Securities Trade Fee till after the FTX founder’s prison trial in October.
U.S. District Choose of Manhattan Kevin Castel on Feb. 13 granted the motions to remain the civil proceedings “with out prejudice,” which means the instances will now be halted till after the Division of Justice’s prison trial concludes.
The movement was first submitted on Feb. 7 by Damian Williams, the U.S. Lawyer for the Southern District of New York, requesting to defer each civil instances in opposition to the FTX founder and former CEO.
each civil instances (one from the SEC and one from the CFTC) have been stayed till the conclusion of the prison trial in opposition to Sam Bankman-Fried https://t.co/3i28naGtnl
— Molly White (@molly0xFFF) February 14, 2023
Citing his causes for wanting the delay, Williams emphasised that each one three instances will almost certainly be hinged on offering the identical proof in opposition to Bankman-Fried, and that the DOJ’s trial in October may have a “important influence” on these civil instances.
He additionally instructed that failing to delay the instances could give SBF unfair benefits within the DOJ’s trial, because the FTX founder had the instruments to “improperly acquire impeachment materials concerning the federal government’s witnesses, circumvent the prison discovery guidelines, and improperly tailor his protection within the prison case.”
Bankman-Fried’s authorized crew didn’t oppose William’s movement to defer the proceedings.
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In a associated court docket improvement regarding SBF’s alleged witness tampering antics, Choose Lewis Kaplan of the USA District Courtroom for the Southern District of New York on Feb. 9 prolonged the FTX founder’s ban on utilizing all encrypted messaging apps till Feb. 21, as a part of his bail circumstances.
Per week prior, SBF’s authorized crew had negotiated a deal to make use of sure encrypted apps below strict supervision, nonetheless, Choose Kaplan overruled it and instructed that he was extra involved about shutting down any encrypted communication than providing SBF a small comfort.
