SBF's cohorts at FTX take last SEC hit, Ellison banned from company roles for decade
Three former top FTX executives, including Caroline Ellison, accepted final SEC consent judgments, resulting in bans from company roles.Summary
Three top former FTX executives—Caroline Ellison (former CEO of Alameda Research), Zixiao "Gary" Wang (former CTO), and Nishad Singh (former co-lead engineer)—agreed to consent judgments to resolve enforcement actions brought by the U.S. Securities and Exchange Commission (SEC) following the exchange's collapse. These settlements, which still require court approval, impose officer and director bans: Ellison received a 10-year restriction, while Wang and Singh received eight-year bans, alongside five-year conduct-based injunctions for all three. The SEC noted that Ellison, Wang, and Singh, with Ellison's knowledge, exempted Alameda from risk mitigation measures and provided it with an unlimited credit line funded by FTX customer money, while Wang and Singh allegedly created software code allowing customer funds to be diverted to Alameda. Ellison previously received a two-year sentence but was reportedly released early, whereas Wang and Singh, key cooperating witnesses, avoided jail time.
(Source：CoinDesk)