Caroline Ellison and Gary Wang plead guilty to cheating allegations
#Caroline #Ellison #Gary #Wang #plead #guilty #cheating #allegations Welcome to InNewCL, here is the new story we have for you today:
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Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges and are cooperating with prosecutors in the criminal case against former FTX CEO Sam Bankman-Fried.
District Attorney for the Southern District of New York (SDNY) Damian Williams made the announcement on Dec. 22, stressing that the latest major development likely won’t be the last.
“As I said last week, this investigation is ongoing and is progressing very rapidly. I also said last week’s announcement wouldn’t be our last and let me be clear, today’s neither,” he said, adding:
I announce that SDNY has filed charges against Caroline Ellison […] and Gary Wang […] in connection with their role in the scams that contributed to the collapse of FTX. Both Ms. Ellison and Mr. Wang have pleaded guilty to these charges and both are cooperating with the SDNY.
Williams also confirmed that SBF is now in Federal Bureau of Investigation (FBI) custody and is “en route back to the United States” where he will be transported directly to the Southern District of New York to appear before a judge appear.” as soon as possible.”
Statement by US Attorney Damian Williams on US vs. Samuel Bankman-Fried, Caroline Ellison and Gary Wang pic.twitter.com/u1y4cs3Koz
— US Attorney SDNY (@SDNYnews) December 22, 2022
Williams also used the statement to send a stark warning to anyone who may have been involved in wrongdoing at FTX or Alameda:
“Now is the time to move forward. We move fast and our patience is not eternal.”
This is an evolving story and more information will be added as it becomes available.
