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Two top executives plead guilty in connection with FTX collapse -U.S. prosecutor

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The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco Bello

U.S. authorities on Wednesday said they have charged Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the former chief technology officer of FTX Trading Ltd, for their roles in the alleged fraud that contributed to FTX’s collapse.

U.S. Attorney Damian Williams said in a video statement that both Wang and Ellison have pleaded guilty to the charges and have agreed to cooperate with prosecutors.

The U.S. Securities and Exchange Commission in a separate statement said it has also charged Ellison and Wang for their roles in a multi-year scheme to defraud equity investors of FTX.