Sam Bankman-Fried’s ex-girlfriend and his FTX co-founder both plead GUILTY to federal charges 

Sam Bankman-Fried‘s FTX co-founder, as well as his ex-girlfriend, have both pleaded guilty to federal fraud charges, entering the pleas in the Southern District of New York Court. 

U.S. authorities announced the charges in a statement Wednesday, revealing the two top executives as FTX’s Gary Wang and former Alameda Research co-CEO Caroline Ellison, who once dated the embattled crypto crook.

Bankman-Fried, 30, faces eight charges which include allegedly conning investors out of $1.8billion by diverting cash to his private crypto hedge fund Alameda Research, run by his 28-year-old ex-girlfriend.

The pair have been charged ‘in connection with their roles and the frauds that contributed to FTX’s collapse,’ U.S. Attorney Damian Williams said in a video statement Wednesday, as Bankman-Fried was confirmed to be in FBI custody after being extradited from the Bahamas.

Williams added that after entering their pleas, both Wang and Ellison – two of the top executives at Bakman-Fried’s collapsed empire – are co-operating with New York officials in their case against the FTX founder. The official warned other FTX fraudsters to come forward, or face the wrath of the federal government.

Sam Bankman-Fried’s FTX co-founder and his ex-girlfriend have both pleaded guilty to federal fraud charges in relation to the exchange’s collapse last month. Officials confirmed Bankman-Fried, 30, is now in FBI custody and is set to appear in New York court imminently

Caroline Ellison, the CEO of Alameda Research, is reportedly working with the federal government against her ex-boyfriend Sam Bankman-Fried

U.S. authorities announced the charges in a statement Wednesday, revealing one of the two top executives to be fellow FTX founder Gary Wang

Bankman-Fried, meanwhile, is set to be in SDNY court imminently, after being arrested by FBI officials while traveling from the Bahamas. 

He has been charged with orchestrating a multiyear fraud that diverted billions in customer money for personal uses, including buying millions of dollars of real estate on the Caribbean islands. 

Prosecutors contend he defrauded customers, investors and lenders involved with his now defunct crypto firm, which was once one of the biggest in the world before its sudden fall last month.

The U.S. Securities and Exchange Commission said in a separate statement said it has also charged Ellison and Wang for their roles in a multi-year scheme to defraud equity investors of FTX.

Williams, meanwhile, reiterated that the federal court’s investigation into the alleged fraudulent activity carried out by brass at Bankman-Fried’s companies is still ongoing, saying specifically that today’s charges – announced in a pair of simultaneous SEC complaints against the two execs – are far from the last. 

U.S. Attorney Damian Williams said in a video statement Wednesday, he pair have been charged ‘in connection with their roles and the frauds that contributed to FTX’s collapse,’ and are cooperating with New York court officials for their burgeoning federal fraud case

‘If you were participating in misconduct, now is the time to get ahead of it,’ Williams said, warning other prospective fraudsters to come forward or face more intense charges later.

 ‘We are moving quickly, and our patience is not eternal.’

Officials from Williams office added that Bankman-Fried – whose personal $16billion fortune vanished in the exchange’s $32billion implosion – could be arraigned before Judge Ronnie Abrams as early as tonight.