Former business associates of disgraced former crypto CEO Sam Bankman-Fried have pleaded guilty to the charges brought against them and are cooperating with the U.S. Attorney’s Office of the Southern District of New York, according to a statement by U.S. Attorney Damian Williams Wednesday.
Caroline Ellison, former CEO of Alameda research and reportedly ex- girlfriend of Bankman-Fried, pleaded guilty to seven counts, including wire fraud and conspiracy to commit securities fraud, while Gary Wang, co-founder of FTX and former chief technology officer, pleaded guilty to four counts, including wire fraud, the Wall Street Journal reported, citing plea agreements. Separately, the U.S. Securities and Exchange Committee (SEC) brought charges for securities fraud against the pair, alleging that they were “active participants” in Bankman-Fried’s efforts to defraud investors on FTX, according to a complaint filed by the SEC Wednesday.