The judge approved to postpone the civil action of CFTC against SBF until the end of the criminal case

It is reported that a judge has approved the request of the United States Attorney for the United States Commodity Futures Commission (CFTC) to postpone the civil action against SBF. In a document submitted last week, the prosecutor asked the judge to postpone the civil fraud lawsuit filed by the United States Securities and Exchange Commission (SEC) and CFTC against SBF until the end of its criminal charges. The prosecutor said that the suspension of civil cases would save time and resources, because the results of criminal cases “may have a significant impact on the final controversial issues in civil cases”. At present, the request for postponing the SEC civil action is still pending. According to the previous news, SBF has agreed to suspend the civil case trial, and the lawyers of Gary Wang and Caroline Ellisone, other senior executives of FTX and Alameda, and the lawyers of FTX.com and Alameda’s bankruptcy property also agreed. In addition, SBF refused to plead guilty to the criminal fraud charges against him. The criminal case will be tried in October.

Interpretation of this information:

The United States Commodity Futures Commission (CFTC) has been granted a request by a judge to delay the civil action against SBF until the criminal charges have concluded. The United States Securities and Exchange Commission (SEC) civil action request is still pending. The suspension of civil cases is expected to save time and resources, as the results of criminal cases may have significant impacts on civil cases. SBF has agreed to postpone the civil case trial, including the other senior executives of FTX and Alameda, and property involved in the bankruptcy. However, they refused to plead guilty to the criminal fraud charges filed against them, and the criminal case will be tried in October.