Caroline Ellison, the ex-Alameda CEO and SBF’s ex-girlfriend, and Gary Wang, the co-founder of FTX, were released on a $250k bond after they pleaded guilty to the fraud charges against them. Their bail bond is 1000 times lesser than SBF’s, and this is because they are going to cooperate in investigations in the FTX case. In other words, Caroline and Gary will snitch on SBF and his operations in FTX, which led to this mess.
What are the charges against Caroline Ellison and Gary Wang?
Caroline, the ex-CEO of Alameda Research, has criminal charges against her. Alongside that, she was also part of a civil complaint that was filed with the SEC. Caroline was part of the fraud that was committed by the crypto exchange and research firm. Gary wang also faces similar charges. The main allegation against them was to help SBF in his plan to fraud investors who trusted FTX. SBF intentionally used customer funds for investments and other things while also manipulating the value of FTT tokens.
Even though so many charges were against Caroline Ellison and Gary Wang, the most important point is that they were not the mastermind. So, for anything major, the two consulted SBF.
Sam Bankman Fried is in huge trouble
Now that SBF’s accomplice has pleaded guilty to fraud charges, it means that shady things were going on in FTX for sure. So, even if SBF says that it was a pure lack of judgment of things that landed them here, we know that’s not true. Now, it is just a matter of time before the authorities collect enough evidence that can be used to indict SBF. Considering they all worked together, it should not be very difficult for the authorities to do so.
Currently, SBF has 8 criminal charges against him: securities fraud, money laundering, wire fraud on customers & lenders, defrauding the US, fraud against customers, violating campaign finance law and committing commodities fraud. This is why his bail bond was astronomically high at $250 million, which, unexpectedly, he was able to manage after saying he had only $100k left in his bank account.
What are your thoughts as Caroline Ellison and Gary Wang are released on bond for $250k? And do you think they will be able to help the authorities to gather evidence against SBF? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
Also Read: SBF seen chilling in the business lounge after bail release.
