Two associates of FTX founder Sam Bankman-Fried agree to plea deals

Sam Bankman-Fried extradited to US to face fraud charges


Sam Bankman-Fried extradited to US to face fraud charges

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Federal prosecutors announced Wednesday night that two colleagues of former FTX CEO Sam Bankman-Fried agreed to plead for a deal on charges related to the collapse of FTX. Cryptocurrency Exchange money. Prosecutors also said Bankman-Fried had flown from the Bahamas to the United States to face charges stemming from the scandal.

U.S. Attorney Damian Williams has found Carolyn Ellison, former CEO of Alameda Research, a trading company founded by Bankman-Freed, and Gary Wang, who co-founded FTX with Bankman-Freed, guilty in the Southern District of New York. admitted and prosecuted. Related to “their role in the fraud that contributed to the demise of FTX”. Both are working with the Southern District, he said.

Charges against them include wire fraud, securities fraud, and commodity fraud.


Statement by US Damien Williams on Samuel Bankman-Fried, Caroline Ellison and Gary Wang vs. US Along
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“Gary accepts responsibility for his actions and takes his duties as a cooperating witness very seriously,” Wang’s attorney told CBS News in a statement.

The Securities and Exchange Commission also announced a civil lawsuit against Ellison and Wang on Wednesday.

Bankman-Fried appeared in a magistrate’s court in the Bahamas on Wednesday and said he had agreed to extradition to the United States. He was then returned to prison, where he was waiting for a flight for his trip, said Our News, a Bahamian news agency.

Williams said Bankman-Fried is in FBI custody and is “on his way back to the United States. He will be transferred directly to the Southern District of New York and will appear before a judge in that district as soon as possible.” .

A man believed to be Bankman-Fried was on a plane that landed overnight at Westchester County Airport, north of New York City.

Bahamian authorities Bankman-Freed Arrested Last week, we received a request from the US government. US prosecutors allege he played a central role in his FTX’s rapid collapse and hid the issue from the public and investors. The SEC said Bankman-Fried illegally used investor funds to purchase properties on behalf of himself and his family.

The 30-year-old could spend the rest of his life in prison.


FTX Founder Sam Bankman-Fried Charged With ‘Years Of’ Fraud Scheme

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In media interviews, Bankman-Fried — with two Stanford University professors prolific political donor — he claimed there was an error in running FTX, but he i didn’t cheat.

Bankman-Fried was denied bail on Friday after a Bahamian judge ruled him a flight risk. Once worth tens of billions of dollars, the founder and former CEO of FTX was held in Fox Hill Prison in the Bahamas.

Once he returns to the United States, Bankman-Fried’s attorneys can request his bail.

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