Categories
News

U.S. prosecutors ask to postpone SEC, CFTC cases against Bankman-Fried

NEW YORK (Reuters) – U.S. prosecutors on Tuesday asked a judge to postpone civil cases brought against FTX founder Sam Bankman-Fried by federal regulators until a parallel criminal case against the former billionaire concludes.

Bankman-Fried attends a hearing on FTX fraud case in New York City

NEW YORK (Reuters) – U.S. prosecutors on Tuesday asked a judge to postpone civil cases brought against FTX founder Sam Bankman-Fried by federal regulators until a parallel criminal case against the former billionaire concludes.

The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have each filed civil fraud cases against Bankman-Fried over the collapse of his cryptocurrency exchange.

Bankman-Fried has pleaded not guilty to criminal fraud charges in Manhattan federal court.

(Reporting by Luc Cohen in New York)

By Reuters

Reuters, part of Thomson Reuters, is the largest international multimedia news provider in the world with a daily audience of more than one billion. Through Thomson Reuters desktops, the world's media organizations, and Reuters.com and Reuters TV, Reuters provide trusted business, financial, and national news to professionals and consumers alike.