The US SEC seeks to ban former core executives of FTX from serving as directors or executives of public companies for 8 to 10 years.
Jinse Finance reported that the U.S. Securities and Exchange Commission (SEC) has today submitted a proposal for a "final consent judgment" to the Southern District Court of New York against Caroline Ellison, former CEO of FTX-affiliated company Alameda Research, former FTX CTO Gary Wang, and former Chief Engineer Nishad Singh. According to the settlement agreement, Ellison has agreed to a 10-year ban on serving as an executive or director, while Wang and Singh have agreed to 8-year bans. None of the three have denied the SEC's allegations of violating the anti-fraud provisions of securities law. The case stems from fraudulent investor activities revealed after FTX's bankruptcy in November 2022.
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