SEC Seeks 10-Year Ban for Ellison, 8 Years for Wang and Singh

The Securities and Exchange Commission filed proposed final consent judgments today seeking officer-and-director bars against three former FTX executives who testified against Sam Bankman-Fried, with Caroline Ellison facing a decade-long prohibition, while Gary Wang and Nishad Singh would receive eight-year restrictions. The filings in Manhattan federal court formalize settlement terms for executives who cooperated extensively with prosecutors during Bankman-Fried’s criminal trial but still face permanent securities law injunctions. Ellison, Wang, and Singh agreed to permanent injunctions barring future violations of federal antifraud provisions, along with five-year conduct-based restrictions, according to SEC Litigation Release 26450. The proposed judgments require court approval before taking effect. The U.S. SEC said it has filed proposed final consent judgments in the Southern District of New York against Caroline Ellison, former CEO of Alameda Research, Zixiao “Gary” Wang, former CTO of FTX, and Nishad Singh, former co-lead engineer of FTX. Subject to court approval, the… —...

https://cryptonews.com/news/sec-seeks-10-year-ban-for-ellison-8-years-for-wang-and-singh/