Sam Bankman-Fried’s Girlfriend and a Co-Founder of FTX Have Pled Guilty to Criminal Fraud Charges
Sam Bankman-Fried’s girlfriend Caroline Ellison and another co-founder of FTX pleaded guilty to criminal fraud charges related to the billion-dollar FTX cryptocurrency exchange, according to unsealed court documents.
The report on Friday came after Bankman-Fried was extradited from the Bahamas to the United States to face charges, including wire fraud and money laundering.
Bankman-Fried was lauded by many as a genius when he co-founded the massive cryptocurrency exchange FTX. He shrouded his actions by claiming that he was amassing billions in wealth in order to donate much of it to charity.
Ellison had been the CEO of Alameda Research, a privately-controlled hedge fund. Bankman-Fried is accused of illegally and covertly transferring billions from FTX to Alameda without properly notifying his investors. She pleaded guilty to seven counts, including conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering. (Read more from “Sam Bankman-Fried’s Girlfriend and a Co-Founder of FTX Have Pled Guilty to Criminal Fraud Charges” HERE)
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