Former Top FTX Executives Plead Guilty To Federal Charges In Fraud Case

FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. - Disgraced cryptocurrency tycoon Sam Bankman-Fried was hit with multiple criminal charges December 13, 2022, accused of committing one of the biggest financial frauds in US history. Bankman-Fried will serve time at The Bahamas Department of Corrections until February 8, 2023. (Photo by Mario DUNCANSON / AFP) (Photo by MARIO DUNCANSON/AFP via Getty Images)

At a glance

  • “I’m announcing that the Southern District of New York has filed charges against Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, a co-founder of FTX, in connection with their roles in the frauds that contributed to FTX’s collapse,” the U.S. attorney for the Southern District of New York said on Wednesday night.
  • “Let me reiterate a call that I made last week, if you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he continued.
  • “We are moving quickly, and our patience is not eternal.”

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