CFTC And SEC Lawsuits Against SBF Will Be Heard After The Criminal Trial
Key Points:
- New York judge has granted the prosecution’s request to postpone civil actions from the Securities Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) until after Sam Bankman-criminal Fried’s trial in October.
- Damian Williams, the U.S. Attorney for the Southern District of New York, first filed the application on February 7 and asked that both civil lawsuits against the founder and former CEO of FTX be postponed.
- Williams outlined his justifications for requesting the delay, pointing out that the DOJ’s trial in October will have a “major influence” on these civil lawsuits and that all three cases will likely depend on presenting the same evidence against Bankman-Fried.
New York judge has granted the prosecution’s request to postpone civil actions from the Securities Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) until after Sam Bankman-criminal Fried’s trial in October.
The requests to halt the civil actions were granted on February 13 by U.S. District Judge Kevin Castel of Manhattan “without prejudice,” which means that the lawsuits will now be put on hold until the conclusion of the Department of Justice’s (DOJ) criminal trial.
Damian Williams, the U.S. Attorney for the Southern District of New York, first filed the application on February 7 and asked that both civil lawsuits against the founder and former CEO of FTX be postponed.
Williams outlined his justifications for requesting the delay, pointing out that the DOJ’s trial in October will have a “major influence” on these civil lawsuits and that all three cases will likely depend on presenting the same evidence against Bankman-Fried.
The FTX founder had the means to “improperly collect impeachment material regarding the government’s witnesses, circumvent the criminal discovery requirements, and improperly tailor his defense in the criminal case,” therefore failing to delay the cases may provide SBF unfair advantages in the DOJ’s trial.
The legal counsel for Bankman-Fried did not object to William’s request to postpone the proceedings.
Judge Lewis Kaplan of the United States District Court for the Southern District of New York extended the FTX founder’s ban on using all encrypted messaging apps until February 21 as part of his bail conditions in a related court development on February 9 regarding SBF’s alleged witness tampering antics.
Judge Kaplan ultimately disregarded the agreement that SBF’s legal team had made a week earlier, saying that he was more worried about shutting down any encrypted communication than providing SBF with a minor convenience.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
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CFTC And SEC Lawsuits Against SBF Will Be Heard After The Criminal Trial
Key Points:
- New York judge has granted the prosecution’s request to postpone civil actions from the Securities Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) until after Sam Bankman-criminal Fried’s trial in October.
- Damian Williams, the U.S. Attorney for the Southern District of New York, first filed the application on February 7 and asked that both civil lawsuits against the founder and former CEO of FTX be postponed.
- Williams outlined his justifications for requesting the delay, pointing out that the DOJ’s trial in October will have a “major influence” on these civil lawsuits and that all three cases will likely depend on presenting the same evidence against Bankman-Fried.
New York judge has granted the prosecution’s request to postpone civil actions from the Securities Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) until after Sam Bankman-criminal Fried’s trial in October.
The requests to halt the civil actions were granted on February 13 by U.S. District Judge Kevin Castel of Manhattan “without prejudice,” which means that the lawsuits will now be put on hold until the conclusion of the Department of Justice’s (DOJ) criminal trial.
Damian Williams, the U.S. Attorney for the Southern District of New York, first filed the application on February 7 and asked that both civil lawsuits against the founder and former CEO of FTX be postponed.
Williams outlined his justifications for requesting the delay, pointing out that the DOJ’s trial in October will have a “major influence” on these civil lawsuits and that all three cases will likely depend on presenting the same evidence against Bankman-Fried.
The FTX founder had the means to “improperly collect impeachment material regarding the government’s witnesses, circumvent the criminal discovery requirements, and improperly tailor his defense in the criminal case,” therefore failing to delay the cases may provide SBF unfair advantages in the DOJ’s trial.
The legal counsel for Bankman-Fried did not object to William’s request to postpone the proceedings.
Judge Lewis Kaplan of the United States District Court for the Southern District of New York extended the FTX founder’s ban on using all encrypted messaging apps until February 21 as part of his bail conditions in a related court development on February 9 regarding SBF’s alleged witness tampering antics.
Judge Kaplan ultimately disregarded the agreement that SBF’s legal team had made a week earlier, saying that he was more worried about shutting down any encrypted communication than providing SBF with a minor convenience.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
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