FTX CTO and Alameda Research CEO admit fraud, pair 'cooperating' with Feds
Two members of Samuel Bankman-Fried's inner circle have pleaded guilty to defrauding equity investors in the moribund FTX cryptocurrency trading platform.that it was charging Gary Wang, former CTO and co-founder of FTX, and Caroline Ellison, former CEO of sister company Alameda Research, with fraud.from US Attorney for the Southern District of New York Damian Williams that said Ellison and Wang had admitted to their roles in the frauds that contributed to the collapse of FTX.
The co-founder and CEO of FTX had gone to ground at his luxury private apartment complex in the exclusive Albany community in the Bahamas as his world came crashing down around him. He wason Monday last week and a extradition request by Uncle Sam followed swiftly. "I also want to thank our partners at the United States embassy in the Bahamas and the Justice Department's Office of International Affairs. And finally I want to thank the FBI for moving mountains to get this done. This was a true team effort."
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