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Reading: Southern NY Court rules criminal charges against Alameda CEO Caroline Ellison and Gary Wang
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HOME > News > CRYPTOPEDIA > Southern NY Court rules criminal charges against Alameda CEO Caroline Ellison and Gary Wang
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Southern NY Court rules criminal charges against Alameda CEO Caroline Ellison and Gary Wang

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Posted news room December 22, 2022 104 Views 2 Min Read
Updated 2022/12/22 at 3:38 PM
Southern NY Court rules criminal charges against Alameda CEO Caroline Ellison and Gary Wang
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The Southern District Court of New York has ruled out criminal charges against the CEO of Alameda Research, Caroline Ellison, along with co-founder Gary Wang for their involvement in the FTX collapse. The announcement was made by U.S. Attorney Damian Williams.

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

He also shared that both Ellison and Wang have pleaded guilty to these charges and are ready to cooperate with the investigations. Ellison has committed seven counts of wire fraud, money laundering, and securities fraud. On the other hand, Wang is held guilty of four counts of fraud. 

Both are expected to serve jail time and also serve separate charges by the Securities and Exchange Commission and Commodities Futures Trading Commission.

The US Government is tightening its ropes against FTX executives who caused a billion-dollar loss to the country and its citizens. 

According to Williams, the ex-CEO Sam Bankman-Fried, who was previously arrested by Bahamas Authorities, is in FBI custody and is coming to the US. He will be presented in front of the same court soon. 

During the announcement, Williams also warned that if someone was involved in this misconduct, they should come forward to confess, “We are moving quickly, and our patience is not eternal,” he said. 

The mutual cooperation between Bahamas authorities and the US government has been quick as they surrounded the executives of FTX completely. As the investigations move forward, more people involved will come to light soon.

TAGGED: CEO Caroline Ellison, Gary Wang, Southern NY

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