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

Two former top executives at FTX have reportedly pleaded guilty to federal charges and are cooperating in the criminal fraud case against disgraced founder and former CEO Sam Bankman-Fried.

“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. “Both Miss Ellison and Mr. Wang have pled guilty to those charges, and they are both cooperating with the Southern District of New York.”

“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.”

Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz

— US Attorney SDNY (@SDNYnews) December 22, 2022

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Related: U.S. Law Enforcement Takes Sam Bankman-Fried Into Custody: Report