FTX Co-founder Gary Wang and Alameda’s Caroline Ellison plead guilty to criminal charges • InNewCL
FTX Co-founder Gary Wang and Alameda’s Caroline Ellison plead guilty to criminal charges • InNewCL
#FTX #Cofounder #Gary #Wang #Alamedas #Caroline #Ellison #plead #guilty #criminal #charges #InNewCL Welcome to InNewCL, here is the new story we have for you today:
Click Me To View Restricted Videos
The FTX/Alameda saga continues, with news late Wednesday that two key associates of Sam Bankman-Fried have been indicted and charged with federal crimes in the US: both former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang are pleading guilty to multiple charges and accepted plea agreements offering a reduced sentence in exchange for assisting with ongoing investigations into wrongdoing at FTX/Alameda that are proving to be “material.”
Meanwhile, Sam Bankman-Fried was also extradited from the Bahamas to the United States on Wednesday, where he faces fraud charges and federal criminal charges by the SEC and CFTC. When Damian Williams, the prosecutor for New York’s Southern District, announced the charges at a press event last week, he noted that his office was “not done” on charging additional charges, and now we know that Ellison and Wang were at least some of the people he was referring to at the time.
Ellison and Wang are likely to be key witnesses for the Feds in the SBF case as they most likely know directly and best that SBF knew about using FTX customer funds to cover Alameda’s risky crypto trade bets.
This may not be the end of the charges against individuals at FTX and Alameda either — Williams reiterated at the press conference announcing the charges against Ellison and Wang that if anyone else considers coming forward to help authorities pursue the If to support trade for possible clemency, now is the time.
Both Ellison and Wang also face civil penalties from the SEC and CFTC, which were announced along with the criminal charges.
