SEC: Caroline Ellison and 2 Other Former FTX Executives Reach Settlement with Regulators, Agree to 8–10 Year Ban on Serving as Executives or Directors

Techub News reports, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) issued a litigation notice stating that three former executives of FTX and its affiliated companies have accepted final penalties from the SEC and reached a settlement agreement with the SEC (still subject to court approval). The related enforcement case revolves around the collapse of FTX. Apart from former CEO Sam Bankman-Fried, who is still serving a prison sentence for fraud, former Alameda Research CEO Caroline Ellison, former FTX Trading CTO Zixiao Wang, and former FTX co-lead engineer Nishad Singh have all signed settlements.

The SEC stated that the three individuals will be prohibited from serving as executives or directors at other companies, with Caroline Ellison facing a 10-year ban and the other two facing 8-year bans; simultaneously, all three will be subject to a 5-year "conduct injunction."