According to public court documents, Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, face up to 110 and 50 years in prison, respectively. Caroline pleaded guilty to seven counts of conspiracy to commit wire fraud against FTX customers, conspiracy to commit wire fraud against Alameda Research lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering, with a maximum sentence of 110 years in prison. Gary Wang pleaded guilty to four counts of conspiracy to commit wire fraud against FTX customers, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud, and will face up to 50 years in prison.
According to previous reports, the US SEC accused Caroline Ellison and Gary Wang of defrauding FTX investors. The two have agreed to two settlement agreements, which are subject to court approval. At the same time, the US Attorney's Office for the Southern District of New York announced charges against Caroline Ellison and Gary Wang. The two have pleaded guilty to federal charges and cooperated with police in the federal criminal case against SBF. The US CFTC accused Caroline Ellison and Gary Wang of fraud, and both pleaded guilty. (ABC NEWS)