The former boss of failed digital assets hedge fund Alameda Research and another senior executive associated with Sam Bankman-Fried’s collapsed digital assets empire have pleaded guilty to multiple criminal charges, according to a report by CNN.
The former boss of failed digital assets hedge fund Alameda Research and another senior executive associated with Sam Bankman-Fried’s collapsed digital assets empire have pleaded guilty to multiple criminal charges, according to a report by CNN.
The report cites unsealed court records as confirming that the pair, who are also facing civil fraud charges announced by the US Securities and Exchange Commission, are now cooperating with federal prosecutors.
Caroline Ellison, who served as CEO of Alameda Research, and Gary Wang, the co-founder of crypto exchange FTX, have pleaded guilty to multiple counts of conspiracy and fraud for their roles in the collapse of the crypto-trading platform.
In a brief video statement on Wednesday night, Damian Williams, the US attorney for the Southern District of New York, announced the charges and stated that they are not the last related to the case.
Bankman-Fried has been extradited from The Bahamas where he was arrested last week for his role in what Williams has described as one of the largest financial frauds in American history, and is due to appear in a Manhattan court ion Thursday.
