Thu. Sep 19th, 2024
Occasional Digest - a story for you

Federal prosecutors and civil regulators filed charges last week that Bankman-Fried and his accomplices perpetrated a multiyear fraud that stole billions of dollars from investors and FTX customers.

On Wednesday night, U.S. Attorney Damian Williams announced that two key members of the former billionaire’s inner circle — Caroline Ellison and Gary Wang — had pleaded guilty to criminal charges and were cooperating with prosecutors as part of an investigation into FTX’s collapse.

The Securities and Exchange Commission and Commodity Futures Trading Commission have also filed charges against Bankman-Fried, Ellison and Wang.

The SEC’s case includes allegations that they participated in a scheme to pump up the price of FTT — a digital token native to the FTX exchange — which the agency has identified as an investment security.

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