Alameda CEO, FTX Lianchuang and FTX engineering director have all pleaded guilty and may receive leniency for cooperating with prosecutors

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Cointime2023/11/03 04:09

By:Cointime

On November 3rd, Caroline Ellison, CEO of Alameda Research, Gary Wang, co-founder of FTX, and Nishad Singh, FTX engineering manager, were key witnesses in the SBF trial. All three stated that SBF instructed them to help transfer billions of dollars in FTX customer funds to Alameda (an affiliated hedge fund owned 90% by SBF) for fraud. As part of a cooperation agreement with prosecutors, these three have pleaded guilty, and cooperating witnesses typically receive leniency, especially if they help the government convict SBF. Several criminal defense attorneys following the case say that based on the testimony of Caroline Ellison, Gary Wang, and Nishad Singh, they may not or have a small chance of going to jail.

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