Two top executives plead guilty in connection with FTX collapse, Bankman-Fried in FBI custody

IDEANEWSINDO.COM - United States authorities on Wednesday (Dec 21) said they have charged Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the former chief technology officer of FTX, for their roles in the alleged fraud that contributed to collapse of the cryptocurrency exchange.

US. Attorney Damian Williams said in a video statement that both Wang and Ellison have pleaded guilty to the charges and have agreed to cooperate with prosecutors.

The US Securities and Exchange Commission in a separate statement said it has also charged Ellison and Wang for their roles in a multi-year scheme to defraud equity investors of FTX.

Williams added FTX founder Sam Bankman-Fried is now in the custody of the Federal Bureau of Investigation and is on a plane headed to the US after being extradited from the Bahamas.

Source: Reuters/sn

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