January 27, 2023

Two top executives of former crypto empire FTX are cooperating with authorities in the criminal case against Sam Bankman-Fried.

According to a recent statement created by U.S. Attorney for the Southern District of New York Damien Williams, Caroline Ellison, a former executive of trading firm Alameda Research, and Gary Wang, the co-founder of FTX, will help build a case against Bankman-Fried.

“The Southern District of New York has filed suit against Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the co-founder of FTX, for their role in the fraud that led to the collapse of FTX. Both Ms. Ellison and Mr. Wang have pleaded guilty to these charges and are cooperating with the Southern District of New York.”

According to recent court documents, Ellison has agreed to provide investigators with important inside information, including handing over pertinent documents, giving crucial eyewitness testimony, and fully revealing the extent of her crimes and the crimes of the other defendants.

“It is understood that the Defendant (a) will truthfully and completely disclose all information regarding all matters requested by this Office, which may be used for any purpose; (b) cooperates fully with this agency, the FBI and other law enforcement agencies…

(c) will attend all meetings requested by this Office’ (d) will provide to this Office upon request any document, report or other tangible evidence pertaining to the matters… (e) will testify truthfully before the grand jury and at any trial or other judicial proceeding…”

Bankman-Fried is accused of fraud, mishandling customer money and making improper campaign contributions in connection with FTX’s multibillion-dollar collapse. The company initially filed for bankruptcy last month after its own assets collapsed and the crypto exchange was forced to halt customer withdrawals.

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Featured image: Shutterstock/Rick_Jo

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