A judge has granted a request by U.S. prosecutors to delay the Commodities and Futures Commission’s (CFTC) civil case against FTX’s Sam Bankman-Fried until after the criminal fraud case against him is completed. Prosecutors argued that a stay in both the CFTC and Securities and Exchange Commission (SEC) cases would save time and resources as the outcome of the criminal case “is likely to have a significant impact on what issues are ultimately in dispute in the Civil Cases.” The judge granted the request, meaning the CFTC and SEC cases against Bankman-Fried will be delayed until the criminal case is resolved.
The SEC has requested a stay in the civil case against Sam Bankman-Fried, Gary Wang, and Caroline Ellison, executives of FTX and Alameda. Bankman-Fried has consented to the stay, as have counsel for the other two executives and the bankrupt estates of FTX.com and Alameda. Bankman-Fried has pleaded not guilty to the criminal fraud charges against him, and the criminal case is due to begin in October. The request for a stay in the SEC case is still pending.
