From CNET: wo former top associates of FTX co-founder Sam Bankman-Fried have pleaded guilty to federal criminal fraud charges and are cooperating with investigators, prosecutors said Wednesday, the same day the disgraced crypto market entrepreneur was extradited to the US to face criminal charges of his own.
Carolyn Ellison, the former CEO of Alameda Research, a trading firm started by Bankman-Fried, and FTX co-founder Gary Wang pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.
"They are both cooperating with the Southern District of New York," US Attorney Damian Williams said Wednesday night in a statement published on Twitter.
The pleas come as US authorities conduct investigations into the spectacular collapse of the crypto exchange. They are expected to increase the pressure on Bankman-Fried, who returned to the US from the Bahamas and is expected to appear in federal court in Manhattan on Thursday.
"If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it," Williams said. "We are moving quickly and our patience is not eternal."
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