Two Key FTX Executives Plead Guilty to Fraud Charges, as SBF Lands Back in the U.S.

On the ninth day of Christmas that's Right I'm your host Andrew and from now Until 2023 we'll be doing what what is This my my producer is flailing his arms What good thing I can read SEMA for he's Saying we have a breaking news story About FTX wow those are some fast and Furious arms well the news never rests And neither do I because this is crypto Espresso your teeny tiny daily shot of Caffeinated crypto headlines uh it's Been a few days time to shake off the Cobwebs let's go first up and finally Two of Sam bankman Freed's closest Business associates have pleaded guilty To federal fraud charges and are now Cooperating with the Department of Justice's investigation those two Associates are Caroline Ellison the Former CEO of Alameda research fdx's Sister trading firm the one that has Been accused of misusing billions of Dollars in customer funds that one and Gary Wong is the other associate the Co-founder of the now bankrupt FTX Exchange itself Ellison has pleaded Guilty to two counts of wire fraud as Well as five counts of conspiracy to Commit wirefraud Securities fraud and Commodities fraud the total maximum Sentence she could face for all of these Charges is 110 years in prison Wang Meanwhile has pleaded guilty to one Count of wire fraud and three counts of

Conspiracy to commit wire fraud Securities fraud and commodities fraud All of which could carry a total maximum Sentence of 50 years both have signed a Document pledging to truthfully and Completely disclose all information Concerning all matters to the U.S Attorney the FBI and agencies the U.S Securities and Exchange Commission has Also charged Ellison and Wong for their Roles in a multi-year scheme to defraud Equity investors in FTX it's alleged That Ellison under spf's Direction Manipulated the price of ftt ftx's Native token by purchasing large Quantities on the open market to prop up Its price meanwhile Wong is accused of Creating the code that allowed funds Belonging to ftx's customers to be Diverted to Alameda research and all of This is hitting after it was confirmed That SBF agreed to be extradited to the US to face charges with the one-time Billionaire now in FBI custody he's Already been taken directly to New York With prosecutors confirming that he'll Appear in court as early as possible It's been suggested that he wanted to Avoid a prolonged stay at Fox Hill the Only prison in the Bahamas and as for me Avoiding reporting on breaking news is Its own prison look sure countdown lists Are fine but give me that breaking news Straight to my vein and Hey listen if

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