2 associates of former FTX CEO plead guilty to charges in US

By Ovunc Kutlu

ISTANBUL (AA) - Two associates of former FTX CEO and founder Sam Bankman-Fried pleaded guilty to federal charges in connection to the collapse of the cryptocurrency trading platform, according to US officials.

Co-founder and former CTO Gary Wang pleaded guilty to conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud and conspiracy to commit securities fraud.

Alameda Research's former CEO Caroline Ellison pleaded guilty to two similar charges.

US Attorney for the Southern District of New York Damian Williams said late Wednesday that both are cooperating.

While the plea agreements were signed Monday, Wang and Ellison are the second and third persons charged in FTX's massive implosion after Bankman-Fried was indicted earlier this month.

The US Securities and Exchange Commission and the Commodity Futures Trading Commission also announced charges against Wang and Ellison, on the same day Bankman-Fried was scheduled to be extradited from the Bahamas to the US.

Williams said Bankman-Fried is now in FBI custody and on his way to the US and will be transported to the Southern District of New York to appear before a judge as soon as possible.

The former CEO faces eight charges from prosecutors who accepted the plea agreements of Wang and Ellison.

"If you participated in misconduct in FTX or Alameda, now is a time to get ahead of it. We're moving quickly and our patience is not eternal," said Williams.