Caroline Ellison and Gary Wang have pled guilty to fraud charges.
Former SBF Company executives Ellison and Wang have both entered guilty pleas. They were, respectively, the founders of FTX and the previous CEO of Alameda. They are currently admitting guilt to fraud charges associated with the demise of FTX. This came after US Attorney made the announcement on Twitter.
William further disclosed that the FBI is presently in charge of Bankman-Fried. We can now confirm that SBF will be charged with fraud, money laundering, conspiracy, and breaches of campaign finance laws. However, Ryan Salame is not currently showing any indicators and no further action is being taken against him.
The Security and Exchange Commission (SEC) is also accusing them of participating in fraudulent operations at the same time. In the news release, it was written:
"The Securities and Exchange Commission today charged Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), and Caroline Ellison, the former CEO of Alameda Research, for their roles in a multiyear scheme to defraud equity investors in FTX, the cryptocurrency trading platform co-founded by Wang and Samuel Bankman-Fried."
So, SBF going to jail, is that a possibility now? Or will he be free like Do Kwon?
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