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CFTC Case Against Sam Bankman-Fried Postponed Until After Criminal Trial
The request to stay the SEC’s civil case against Bankman-Fried is still pending.
By Nelson Wang
Updated Feb 13, 2023, 10:41 p.m. Published Feb 13, 2023, 10:31 p.m.
A judge has granted a request by U.S. prosecutors to have the Commodities and Futures Commission’s (CFTC) civil case against FTX’s Sam Bankman-Fried be delayed until after the criminal fraud case against him is completed.
In a filing last week, prosecutors said a stay in both the CFTC and Securities and Exchange Commission (SEC) cases would save time and resources because the outcome of the criminal case “is likely to have a significant impact on what issues are ultimately in dispute in the Civil Cases.”
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The request to stay the SEC case is pending.
Bankman-Fried had consented to the issuance of a stay in the civil cases, as had counsel for fellow FTX and Alameda executives Gary Wang and Caroline Ellison, and counsel for the bankrupt estates of FTX.com and Alameda.
Bankman-Fried has pleaded not guilty to the criminal fraud charges against him. The criminal case is due to begin in October.
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