Damian Williams, United States Lawyer for the Southern District of New York, has petitioned the courtroom to delay civil proceedings in opposition to former FTX chief government officer Sam Bankman-Fried “till the conclusion of the parallel prison case”.

In Feb. 7 filings, Williams requested that the courtroom challenge an order staying civil proceedings in addition to discovery from the U.S. Securities and Change Fee and Commodity Futures Buying and selling Fee in opposition to Bankman-Fried till after his prison case, scheduled to go to trial in October. Based on Williams, the prison case in opposition to Bankman-Fried was “prone to have a big affect” on the SEC and CFTC civil circumstances.

“The entire info at challenge within the Civil Instances are additionally at challenge within the Prison Case,” stated the submitting. “Certainly, as to the scheme to defraud FTX.com prospects, the scheme to defraud FTX.com buyers, the conspiracy to commit securities fraud by materially deceptive FTX.com buyers, and the conspiracy to commit commodities fraud by misappropriating FTX.com buyer funds meant for use for swaps buying and selling, nearly the entire identical paperwork, witnesses, and different proof that may be utilized by the SEC and CFTC to show their claims arising from these schemes would even be used to show the Authorities’s prison case.”

Relating to staying discovery proceedings, the U.S. Lawyer claimed with out intervention, Bankman-Fried had the instruments to “improperly get hold of impeachment materials relating to the Authorities’s witnesses, circumvent the prison discovery guidelines, and improperly tailor his protection within the Prison Case”. The decide overseeing SBF’s prison case has already banned the previous FTX CEO from utilizing encrypted messaging apps as a situation of his bail after allegations of contacting witnesses doubtlessly concerned within the case.

Attorneys for Bankman-Fried stated he didn’t object to staying the SEC and CFTC civil circumstances till the conclusion of the prison case. The authorized groups for former Alameda Analysis CEO Caroline Ellison and FTX co-founder Gary Wang consented to staying the CFTC case — the 2 have already settled their civil circumstances with the SEC.

Associated: FTX fallout: SBF trial might set precedent for the crypto business

Each the SEC and CFTC filed separate lawsuits in opposition to Bankman-Fried in December shortly after his arrest within the Bahamas. The SEC’s grievance sought injunctions which might stop SBF from taking part within the issuance, buy, supply or sale of any securities aside from his private account, whereas the CFTC stated it was on the lookout for injunctive and different equitable aid in addition to civil financial penalties in opposition to the previous CEO, FTX, and Alameda.