Caroline Ellison and three other former FTX executives accept SEC penalties and sign settlement agreements, barred from serving as executives or directors for 8-10 years

CoinVoice has learned that, according to Coindesk, the US SEC has issued a lawsuit notice stating that three former executives of FTX and its affiliated companies have accepted SEC’s final penalties. The SEC is handling enforcement cases related to the collapse of the exchange.

Former CEO Sam Bankman-Fried is still serving time in federal prison for fraud, while former Alameda Research CEO Caroline Ellison and other executives have agreed to a settlement, which still requires court approval. Other executives who signed settlement agreements include Zixiao Wang, former CTO of FTX Trading, and Nishad Singh, former co-CEO of FTX. The SEC stated that the three will be barred from serving as executives or directors at other companies, with Caroline Ellison’s ban lasting 10 years and the others’ lasting 8 years. The agency also said they are subject to a five-year “behavioral injunction.”