Former Alameda Research CEO and FTX CTO plead guilty in US court

According to the latest statement by U.S. attorney Damian Williams, ex-FTX CEO Sam Bankman-Fried’s “associates” plead guilty to criminal charges in the United States District Court for the Southern District of New York.

Former Alameda Research CEO Caroline Ellison, 28, and ex-FTX chief technology officer (CTO) Gary Wang, 29, pleaded guilty to seven and four criminal charges, respectively. The former SBF associates were charged with wire fraud, among other crimes, as the FTX CEO got extradited to the U.S. from the Bahamas.

“Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness.”

Wang’s lawyer Ilan Graff said in a statement.

Ellison’s lawyer, however, declined to comment on the situation, per Wall Street Journal (WSJ).

Furthermore, SBF is currently in FBI’s custody and waiting for the Thursday court in Manhattan after he changed his decision on his extradition to the United States from the Bahamas — where he was arrested.

Per WSJ’s report, SBF and Ellison — who joined Alameda after trading at Jane Street — were “romantically involved” at times. 

The U.S. Securities and Exchange Commission (SEC) has previously noted, according to WSJ, that the former Alameda CEO has “manipulated” FTX’s native utility token’s, FTT, price from 2019 to 2022.

According to Ellison’s plea agreement, “the total maximum sentence of incarceration on Counts One through Seven of the Information is 110 years’ imprisonment.”