I think that the belief is that Lloyd was killed for his knowledge of the 2012 homicide. I do not think they have enough for an indictment but information gathered during the trial may give them enough to indict for the 2012 case.
I am not a legal expert so I could be way off; I am not even sure if they are permitted to use the information gathered during a trial in a future case.
I highly doubt that they'll wait until after the Llyod case plays out. They will want to use the Llyod angle to help receive a guilty verdict, and the fact that the 2 cases tie into each other would be damning. It would help their case, not hinder it.
They have claimed as of a week or so ago that the investigation and grand jury process is really heating up, so we'll have to see. Keep in mind the old adage is that "you can indict a ham sandwich" from the prosecution angle--so yes, I do expect them to indict him at some point.
There are many grand juries who convene for months at a time, and especially under these kind of bizarre circumstances (another open case, TONS of people to hear and question, ongoing investigations, people dying who'd have been in front of them, people like Alexander Bradley racking up new charges by dumping 11 bullets into the front of the club, etc). This is one hell of a complicated situation from both standpoints, and there's a possibility they are really hoping that Bradley helps in some way as well.
They already have lots of evidence though. They have the murder weapon, the vehicle used, and a few different camera angles from the garage and street. On top of that they've had a witness who lived identify Hernandez as of last October. They are gathering their evidence and presenting it, but it may take another couple/few months.
