The CFTC charged the former chief executive of Alameda and FTX Alliance with fraud. Both pleaded guilty

BlockBeats News, December 22nd, The U.S. Commodity Futures Trading Commission (CFTC) posted on its website today that it accused former Alameda chief executive Caroline Ellison and Alameda and FTX co-founder Gary Wang and their companies of fraudulent actions, The amended indictment charges Caroline Ellison with fraud and material misrepresentation in connection with the sale of digital asset goods in interstate commerce, and Gary Wang with fraud in connection with the sale of digital asset goods in interstate commerce. The amended complaint further alleges that beginning in October 2021, Caroline Ellison, along with SBF and others, directed Alameda to use billions of dollars of FTX funds, including FTX customer funds, to trade on other digital asset exchanges, And fund a variety of risky digital asset industry investments. Ellison, in his capacity as CEO of Alameda, made deceptive public statements, including statements regarding a false separation between Alameda and FTX businesses, in order to facilitate and perpetuate the fraudulent scheme. Ellison and Wang do not dispute their liability for the CFTC claim. Each party has agreed to file a judgment consent order regarding its liability for fraud in violation of Section 6(c)(1) of the Commodity Exchange Act and CFTC Regulation 180.1.