Judge Suspends Two Civil Lawsuits Against Sam Bankman-Fried

The court has suspended two civil lawsuits by regulators against FTX founder Sam Bankman-Fried pending the completion of a criminal case against him by the US Department of Justice.

Reuters has reported that Judge Kevin Castel has granted the DOJ’s motion regarding the SEC and CFTC complaints. Prosecutors said it makes sense to postpone these trials because “the outcome of the criminal case is likely to have an impact.”

Law enforcement has also noted that Bankman-Fried could use civil processes to collect evidence, bring in witnesses and circumvent disclosure rules.

The former head of FTX has agreed to the suspension of civil cases.