Bankman-Fried Associates Flip as FTX Founder Arrives in NYC

Ellison and Wang plead guilty, cooperate with US prosecutors
FTX co-founder was extradited to the US on Wednesday

Bankman-Fried Returns to US as Associates Flip

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By Ava Benny-Morrison, Allyson Versprille, and David Voreacos

December 22, 2022 at 2:16 AM UTC

Updated on

December 22, 2022 at 1:21 PM UTC

This article is for subscribers only.

FTX co-founder Sam Bankman-Fried landed in the US late Wednesday to face a range of criminal charges just as two of his long-time associates said they were cooperating with prosecutors.

The revelation that Caroline Ellison and Gary Wang had pleaded guilty to fraud and were working with federal officials probing the collapse of the crypto exchange is an ominous sign for Bankman-Fried. The 30-year-old is facing an eight-count indictment in New York.