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Here Are Some of the Allegations Against Ellison, Wang

  • Top Bankman-Fried associates pleaded guilty to federal charges
  • FTX empire collapsed last month, roiling crypto world
Bloomberg business news
SEC Charges Alameda’s Ellison, FTX’s Wang
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US authorities have alleged that fallen crypto titan Sam Bankman-Fried defrauded investors in his FTX empire, stealing billions of dollars over years for his own benefit.

Now, top Bankman-Fried associates Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, are accused of helping him. They’ve pleaded guilty to federal criminal fraud charges and are cooperating with prosecutors. The US Securities and Exchange Commission and Commodity Futures Trading Commission also announced separate lawsuits on Wednesday.