Former FTX official and Alameda Research CEO plead guilty to federal charges
Caroline Ellison, former CEO of Alameda Research, and Zixiao"Gary" Wang, the former chief technology officer and co-founder of FTX, are said to be cooperating with prosecutors and were also hit with a civil complaint from the Securities and Exchange Commission for alleged fraud."Both Miss Ellison and Mr. Huang have pled guilty to those charges, and they're both cooperating," U.S. Attorney Damian Williams revealed.
— US Attorney SDNY December 22, 2022 Williams declined to divulge the specific charges against Ellison or Wang. They are now the second and third prominent executives charged in the FTX collapse, along with FTX founder Sam Bankman-Fried, who Williams confirmed was brought into FBI custody during his extradition from the Bahamas. Bankman-Fried has been charged with eight counts of fraud and campaign finance violations.
"Ms. Ellison and Mr. Wang were active participants in a scheme to conceal material information from FTX investors, including through the efforts of Mr. Bankman-Fried and Ms. Ellison to artificially prop up the value of FTT, which served as collateral for undisclosed loans that Alameda took out from FTX pursuant to its undisclosed, and virtually unlimited, line of credit," Sanjay Wadhwa, deputy director of the SEC’s Division of Enforcement, said.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX co-founder and former CEO at Alameda Research plead guilty to fraudThe charges and guilty pleas of Caroline Ellison and Gary Wang were announced as a U.S. attorney said Samuel Bankman-Fried was in FBI custody en route to the U.S.
Read more »
FTX Co-Founder, Former Alameda Research CEO Both Plead Guilty to Federal ChargesBREAKING Federal charges have been filed against Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX, for their roles that contributed to the crypto currency exchange’s collapse, prosecutors announced
Read more »
Associates of FTX Founder Sam Bankman-Fried Plead Guilty to Criminal ChargesBreaking: Sam Bankman-Fried's former associates Caroline Ellison and Gary Wang pleaded guilty to criminal charges for their roles in fraud that contributed to FTX's collapse, prosecutors say
Read more »
FTX co-founder Gary Wang, ex-Alameda CEO Caroline Ellison plead guilty to federal chargesOn the same day that that the Bahamas extradited FTX co-founder and former CEO Sam Bankman-Fried to the U.S. to face criminal charges, two former executives at FTX and Alameda Research pleaded guilty Wednesday to federal fraud charges.
Read more »
Pantera CEO on the FTX collapse: Blockchain didn’t failDan Morehead, the CEO of Pantera Capital, highlighted that business in the blockchain space is moving back to safer entities.
Read more »
Ex-FTX CEO Sam Bankman-Fried agrees to be extradited to U.S., sources saySam Bankman-Fried, the former CEO of FTX, has agreed to be extradited from the Bahamas to the U.S. to face charges related to the failed crypto exchange's collapse.
Read more »