FTX Executives Face SEC Penalties as Caroline Ellison Receives 10-Year Ban and Others 8-Year Bans, While Sam Bankman-Fried Remains in Prison
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COINOTAG News, on December 20 and citing Coindesk, reports that the SEC has issued litigation notices to three former FTX executives as part of its broader enforcement drive tied to the exchange’s collapse.
Former FTX CEO Sam Bankman-Fried remains incarcerated for fraud, while Caroline Ellison, the former head of Alameda Research, along with other executives, has agreed to settlements awaiting court approval.
Additional signees include Zixiao Wang, the former FTX Trading CTO, and Nishad Singh, the former Co‑Chief Engineer of FTX.
The SEC indicates these agreements impose bans on serving as executives or directors; Ellison faces a 10-year restriction, while the other executives receive eight-year prohibitions, supplemented by a five-year conduct restriction.