Both former executives are said to be cooperating with investigators as they build their case against Bankman-Fried. The news came with an ominous warning for others who may have participated in such activities at FTX, with Williams advising those individuals to “get ahead of it,” noting also that “we are moving quickly and our patience is not eternal.” As for the two former executives, both Wang and Ellison pleaded guilty to “their roles in the frauds that led to FTX’s collapse,” U.S. Attorney Williams said in his statement.
Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz
— US Attorney SDNY (@SDNYnews) December 22, 2022
The New York Times managed to get a statement from Wang’s lawyer, who said the former executive “takes seriously his obligations as a cooperating witness.” The pair have also been hit with civil charges from the SEC, as has former leader Bankman-Fried.
Investigators have accused the former FTX head of engaging in multi-year fraud, using money from customers and investors for everything from buying property in the Bahamas to funding campaign donations. The latter issue was touched upon by Williams during his press briefing, where he said that among other things, Bankman-Fried faces charges related to an alleged “campaign finance scheme that sought to influence public policy in Washington.” According to The Wall Street Journal, Bankman-Fried may appear in court on Thursday only hours after arriving in the United States.
For all the latest Games News Click Here
For the latest news and updates, follow us on Google News.
