Who are Caroline Ellison & Zixiao (Gary) Wang?

The Securities and Exchange Commission today charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform co-founded by Samuel Bankman-Fried and Wang.

Who is Caroline Ellison?

She is also one of the supporting players in Sam Bankman-Fried's FTX catastrophe. I n 2021, Caroline Ellison, the CEO of Alameda Research who oversaw crypto traders allegedly playing roulette with billions of FTX’s customer funds, was asked if she had any advice for her younger self.

Did Wang and Ellison misappropriate FTX customer funds for Alameda?

The complaint alleges that Wang created FTX’s software code that allowed Alameda to divert FTX customer funds, and Ellison used misappropriated FTX customer funds for Alameda’s trading activity.

Which regulatory agencies have filed civil fraud charges against Ms Ellison & Wang?

Two federal regulatory agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission, also filed civil fraud charges against Ms. Ellison and Mr. Wang on Wednesday, building on fraud complaints they brought against Mr. Bankman-Fried last week.