Caroline Ellison and two other former FTX executives accept SEC penalties and sign settlement agreements, banned from serving as executives or directors for 8-10 years.
PANews, December 20 — According to Coindesk, the US SEC has issued a litigation notice stating that three former executives of a certain exchange and its affiliated companies have accepted the SEC's final penalties, and the SEC is handling enforcement cases related to the collapse of the exchange.
Former CEO Sam Bankman-Fried is still serving time in federal prison for fraud, while Caroline Ellison, former CEO of Alameda Research under the exchange, and other executives have agreed to settlement agreements, which are still subject to court approval. Other executives who signed settlement agreements include Zixiao Wang, former CTO of the exchange's Trading division, and Nishad Singh, former co-head of engineering at the exchange.
The SEC stated that the three will be prohibited from serving as executives or directors at other companies, with Caroline Ellison's ban lasting 10 years and the others' bans lasting 8 years. The agency also stated that they are subject to a five-year "conduct injunction."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Japan’s Takaichi says in close contact with US financial authorities on currency market
A bitcoin address dormant for 16.2 years has been activated, containing 50 BTC
Yen breaches the 160 level again! Japanese finance minister vows to "join forces" with the US Treasury to address unilateral volatility
After the yen fell below the critical 160 level, the Japanese finance minister stated that Japan would closely cooperate with the US Treasury Department to address unilateral volatility, reigniting speculation of joint intervention.
Crypto prices
More
