FTX Case Nears Close as SEC Imposes Long-Term Executive Bans
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The SEC has filed for 10-year and 8-year bans against former FTX executives Ellison, Wang, and Singh, preventing them from violating federal securities laws. These actions conclude the civil enforcement process related to the $1.8B FTX fraud case. The judgments were submitted to the U.S. District Court for the Southern District of New York.
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- SEC filed for 10-year and 8-year corporate leadership bans against Ellison, Wang, and Singh.
- The trio is permanently barred from violating federal securities laws under new consent judgments.
- Regulatory filings finalize the civil enforcement path following the $1.8B FTX investor fraud.
The U.S. Securities and Exchange Commission said on Thursday it has filed proposed final consent judgments against three former executives of collapsed cryptocurrency exchange FTX and its trading affiliate Alameda Research.
The filings, submitted in the U.S. District Court for the Southern District of New York, involve Caroline Ellison, former chief executive of Alameda Research, Zixiao “Gary” Wang, former chief technology officer of FTX, and Nishad Singh, a former co-lead engineer at FTX.
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