FTX Execs Face SEC Penalties, Banned from Leadership Roles

Former FTX executives face SEC penalties, including bans from officer or director positions and conduct-based injunctions. Caroline Ellison, Gary Wang, and Nishad Singh, along with Caroline Ellisons awareness, exempted Alameda from risk management measures, allowing Alameda to use FTX customer funds for trading operations. Gary Wang and Nishad Singh developed software enabling the diversion of funds, while Caroline Ellison used misappropriated funds for Alamedas trading.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.