A New York City presiding judge has approved a request by the Commodity Futures Trading Federation (CFTC) and the Securities and Exchange Commission (SEC) to defer the civil case of Rob Bankman-Fried (Sam Bankman-Fry) until the criminal trial of the founder of FTX in October.
On February 13th, Manhattan District Judge Kevin Castre approved a motion to suspend civil cases, which means such cases will now be suspended until the criminal trial of the judiciary is completed.
The motion, originally filed by Wilshere Jones, the United States attorney for the Southern District of New York City, postponed several civil lawsuits against the founder of FTX and the former CEO.
Citing the main reason for the delay, Jones noted that the three cases are also likely to lie in giving a relevant evidence against Bankman-Fried, and the Justice Department's October trial will have a "far-reaching impact" on such civil proceedings.
He also said that if the case is not postponed, it may give SBF an unequal advantage in the judicial trial, because the founder of FTX has special tools to "improperly obtain the removal raw materials of witnesses from relevant government departments, circumvent the rules of criminal evidence, and tailor himself to defend himself in criminal cases".
The Bankman-Fried legal elite team is not resisting Sperry's motion to postpone the prosecution.
In court progress related to SBF's alleged forgery of a funny witness, Judge Lewis Kaplan of the Southern District Court of New York extended the restrictions on the FTX founder's use of all encrypted data messages until February 21 as part of its bail conditions.
A week ago, the SBF legal elite team negotiated an agreement to apply some data encryption applications under strict supervision, but Chief Justice Kaplan rejected the agreement and said he was more concerned with turning off all encrypted communications than giving SBF a little convenience.
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Tue, 18 Apr 2023