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Gary Wang, co-founder of FTX, and Caroline Ellison, former co-CEO of Sam Bankman-Fried’s Alameda Research, have both pleaded guilty to federal offenses in the Southern District of New York, according to a statement released by U.S. Attorney Damian Williams this week.
CNBC reports that FTX co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison have both pleaded guilty to federal charges and are cooperating with prosecutors, according to U.S. Attorney Damian Williams. Both the bankrupt FTX and its associated hedge fund Alameda Research are the brainchild of Democrat super donor Sam Bankman-Fried.
Gary Wang has admitted to participating in a conspiracy to commit wire fraud, committing wire fraud, conspiring to commit commodities fraud, and conspiring to commit securities fraud. Caroline Ellison has pleaded guilty to two counts of wire fraud, two counts of conspiring to commit wire fraud, conspiring to commit commodities fraud, securities fraud, and money laundering.
