{"id":71797,"date":"2022-12-22T09:29:17","date_gmt":"2022-12-22T07:29:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71797"},"modified":"2025-09-08T11:10:59","modified_gmt":"2025-09-08T08:10:59","slug":"caroline-ellison-and-gary-wang-plead-guilty-to-ftx-collapse-related-charges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/caroline-ellison-and-gary-wang-plead-guilty-to-ftx-collapse-related-charges\/","title":{"rendered":"Caroline Ellison and Gary Wang Plead Guilty to FTX Collapse-Related Charges"},"content":{"rendered":"<p>The former head of Alameda Research Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to charges related to the collapse of Sam Bankman-Fried\u2019s business empire, and they have agreed to cooperate with the investigation. This was announced by Damian Williams, the U.S. Attorney for the Southern District of New York.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang <a href=\"https:\/\/t.co\/u1y4cs3Koz\">pic.twitter.com\/u1y4cs3Koz<\/a><\/p>\n<p>\u2014 US Attorney SDNY (@SDNYnews) <a href=\"https:\/\/twitter.com\/SDNYnews\/status\/1605745361842327552?ref_src=twsrc%5Etfw\">December 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abLet me repeat the call made last week. If you were involved in violations at FTX or Alameda, now is the time to come forward. We are moving quickly and our patience is not unlimited\u00bb, \u2014 Williams said.<\/p>\n<\/blockquote>\n<p>ABC News, citing court documents, reports that Ellison pleaded guilty to seven counts, including conspiracy to commit fraud against FTX clients. She faces up to 110 years in prison.<\/p>\n<p>Wang pleaded guilty to four counts and could face up to 50 years in prison.<\/p>\n<p>According to Williams, Bankman-Fried is currently in custody by <span data-descr=\"Federal Bureau of Investigation\" class=\"old_tooltip\">FBI<\/span> agents and is being transported to the United States. Earlier Bahamian authorities said that the former head of FTX was to be sent to the United States on the evening of December 21.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The Office of the Attorney General of The Bahamas announced the extradition to the United States of Sam Bankman-Fried (&#8220;SBF&#8221;), the former CEO of FTX. SBF will depart from The Bahamas for the United States tonight. <a href=\"https:\/\/t.co\/WttWmNpIw4\">pic.twitter.com\/WttWmNpIw4<\/a><\/p>\n<p>\u2014 Latrae L. Rahming (DOC)\ud83c\udde7\ud83c\uddf8 (@latraelrahming) <a href=\"https:\/\/twitter.com\/latraelrahming\/status\/1605691266339151879?ref_src=twsrc%5Etfw\">December 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">22 December 2022 | 10:08<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>According to the BBC, Bankman-Fried has arrived in New York. He could appear in court today.<\/p>\n<\/div>\n<p>The U.S. Securities and Exchange Commission (SEC) separately charged Ellison and Wang with deceiving investors. The regulator said both were &#8220;active participants&#8221; in the fraud scheme and had &#8220;a decisive role&#8221; in its success.<\/p>\n<p>The SEC explained that Ellison illegally used client funds from FTX in Alameda Research\u2019s activities, and Wang &#8220;created software code&#8221; that allowed redirecting users\u2019 assets to the accounts of the trading company.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Until crypto platforms comply with time-tested securities laws, risks to investors will persist. It remains a priority of the SEC to use all of our available tools to bring the industry into compliance. <a href=\"https:\/\/t.co\/m8oh0gTvc3\">https:\/\/t.co\/m8oh0gTvc3<\/a><\/p>\n<p>\u2014 Gary Gensler (@GaryGensler) <a href=\"https:\/\/twitter.com\/GaryGensler\/status\/1605753564994871297?ref_src=twsrc%5Etfw\">December 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abUntil crypto platforms comply with time-tested securities laws, risks to investors will persist. The SEC\u2019s priority is to bring the industry into compliance using all tools at our disposal\u00bb, \u2014 said regulator Gary Gensler.<\/p>\n<\/blockquote>\n<p>The U.S. Commodities Futures Trading Commission (CFTC) also <a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8644-22\">charged<\/a> the former head of Alameda Research and FTX co-founder with fraud and \u201cdeceptive practices in connection with the sale of digital assets.\u201d<\/p>\n<p>According to the press release, Ellison and Wang pleaded guilty.<\/p>\n<p>As a reminder, on December 12 Bahamian authorities <a href=\"https:\/\/u1f987.com\/en\/news\/bahamas-authorities-arrest-ftx-founder-sam-bankman-fried\">arrested the founder of FTX Sam Bankman-Fried<\/a> at the request of the U.S. government. In the course of the collapse investigation, the U.S. prosecutor <a href=\"https:\/\/u1f987.com\/en\/news\/us-court-unveils-charges-against-sam-bankman-fried\">filed<\/a> eight counts against him.<\/p>\n<p>On December 13, suits were filed against Bankman-Fried by <a href=\"https:\/\/u1f987.com\/en\/news\/sec-charges-sam-bankman-fried-with-fraud-tied-to-ftx\">SEC<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-sues-sam-bankman-fried\">CFTC<\/a>.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former head of Alameda Research Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to charges related to the collapse of Sam Bankman-Fried\u2019s business empire, and agreed to cooperate with the investigation.<\/p>\n","protected":false},"author":1,"featured_media":71798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1236],"class_list":["post-71797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71797"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71797\/revisions"}],"predecessor-version":[{"id":71799,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71797\/revisions\/71799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71798"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}