TechFlow News, according to ABC NEWS, newly unsealed court documents reveal that former Alameda Research CEO Caroline Ellison has pleaded guilty to seven charges, carrying a maximum sentence of 110 years in prison. FTX co-founder Gary Wang has pleaded guilty to four charges and faces up to 50 years in prison.
Specifically, Caroline admitted to conspiracy to commit wire fraud against FTX customers, wire fraud against FTX customers, conspiracy to commit wire fraud against Alameda Research lenders, wire fraud against Alameda Research lenders, conspiracy to commit commodity fraud, conspiracy to commit securities fraud, and conspiracy to launder money. These seven charges collectively carry a maximum penalty of 110 years in prison.
Gary Wang admitted to conspiracy to commit wire fraud against FTX customers, wire fraud against FTX customers, conspiracy to commit commodity fraud, and conspiracy to commit securities fraud, and now faces a maximum of 50 years in prison. Source link
