NEW YORK : A U.S. judge on Monday put two regulators' civil lawsuits against Sam Bankman-Fried on hold until the conclusion of the Department of Justice's criminal case against the founder of the now-bankrupt FTX cryptocurrency exchange.U.S. District Judge Kevin Castel in Manhattan granted a Justice Depar
NEW YORK : A U.S. judge on Monday put two regulators' civil lawsuits against Sam Bankman-Fried on hold until the conclusion of the Department of Justice's criminal case against the founder of the now-bankrupt FTX cryptocurrency exchange.
U.S. District Judge Kevin Castel in Manhattan granted a Justice Department motion to stay the lawsuits filed by the Securities and Exchange Commission and the Commodity Futures Trading Commission. Prosecutors said it made sense to delay those lawsuits because the cases substantially overlapped, and the outcome of the criminal case would likely affect what issues remained in the civil cases.
They also cited the risk that Bankman-Fried could gather evidence in the civil cases to improperly impeach government witnesses, circumvent discovery rules in criminal cases, and tailor his criminal defense.Stays of SEC and CFTC lawsuits are common when the Justice Department files parallel criminal cases.
Bankman-Fried, 30, has been free on $250 million bond and living in Palo Alto, California, with his parents since pleading not guilty to looting billions of dollars from FTX. Another Manhattan federal judge, Lewis Kaplan, oversees that case.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MAS, PMO among government agencies on FTX creditor list, but are not creditorsSINGAPORE – Four Singapore government agencies which are not creditors of FTX have been included in a broad list of creditors of the collapsed cryptocurrency exchange, illustrating the difficulty of establishing a true picture of the tangled bankruptcy. Read more at straitstimes.com.
Read more »
Air apparent: Sam Smith goes viral with Brit Awards outfitThe distinctive jumpsuit, designed by Harri, had inflatable arms and legs.
Read more »
Netizens shocked at new outfit by Sam SmithRecently, Sam Smith has come out with a new debut album called Gloria, and has shocked netizens with his new outfit styles. This follows his shocking Grammys pe
Read more »
PMO, MAS and other government agencies say FTX doesn't owe them money, after appearing in company's listSINGAPORE – Four Singapore government agencies which are not creditors of FTX have been included in a broad list of creditors of the collapsed cryptocurrency exchange, illustrating the difficulty of establishing a true picture of the tangled bankruptcy. The Prime Minister’s Office (PMO), Ministry of Sustainability and the Environment (MSE), Monetary Authority of Singapore (MAS) and Intellectual Property Office of...
Read more »
BBC chair made 'errors of judgement' over Boris Johnson loan, lawmakers sayLONDON — BBC Chair Richard Sharp made 'significant errors of judgement' in failing to declare his involvement in facilitating a loan for then-Prime Minister Boris Johnson shortly before he was appointed to the role, a committee of lawmakers said on Sunday (Feb 12). Sharp, a former Goldman Sachs banker, has said he introduced Sam Blyth, an old friend who wanted...
Read more »
Property investment firm director sues plastic surgeon over eyelid surgery, judge dismisses caseThe director of a property investment firm who was unhappy that he was left with “high and prominent” upper eyelid creases after an operation to correct his asymmetrical eyes sued the plastic surgeon who carried out the cosmetic procedure. Read more at stomp.straitstimes.com
Read more »