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Three of Sam Bankman-Fried's apical lieutenants atop the erstwhile FTX empire — Caroline Ellison, Gary Wang and Nishad Singh — agreed to consent judgments.
Dec 19, 2025, 6:09 p.m.
Three of the apical erstwhile executives astatine FTX and its affiliates person accepted last punishments from the U.S. Securities and Exchange Commission arsenic the bureau resolves its enforcement cases connected to the exchange's collapse, the SEC said successful a litigation notice connected Friday.
As erstwhile CEO Sam Bankman-Fried continues his national situation condemnation connected his fraud convictions, Caroline Ellison, the erstwhile CEO of its Alameda Research arm, is among those who agreed to consent judgements to resoluteness enforcement actions filed successful 2022 and 2023, which inactive person to beryllium approved successful court. Others who signed the deals see Zixiao "Gary" Wang, the erstwhile main exertion serviceman of FTX Trading, and Nishad Singh, the erstwhile co-lead technologist of FTX.
Each of them volition beryllium banned from serving arsenic officers oregon directors successful different companies, the SEC said, with Ellison accepting a 10-year regularisation and the others getting eight-year bans. They're besides taxable to five-year "conduct-based injunctions," the bureau said.
"Bankman-Fried, Wang, and Singh, with Ellison’s cognition and consent, had exempted Alameda from the hazard mitigation measures and provided Alameda with a virtually unlimited 'line of credit' funded by FTX’s customers," according to the SEC statement. "The complaints besides alleged that Wang and Singh created FTX’s bundle codification that allowed FTX lawsuit funds to beryllium diverted to Alameda, and that Ellison utilized misappropriated FTX lawsuit funds for Alameda’s trading activity."
Ellison had been fixed a two-year situation sentence for her relation successful the FTX fraud, though she's precocious reportedly been released from prison early. Wang, who was a cardinal cooperating witnesser successful the government's case, avoided jailhouse time, arsenic did Singh.
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