Reported by: Lawrence Richard FOXBusiness

Two former associates of FTX founder Sam Bankman-Fried pleaded guilty to charges the Securities and Exchange Commission (SEC) filed against them Wednesday as part of a multiyear scheme to defraud investors.

Former Alameda Research CEO Caroline Ellison, 28, and former Chief Technology Officer of FTX Trading LTD Zixiao (Gary) Wang, 29, secretly pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.

Wang also co-founded FTX alongside Bankman-Fried.

The surprise guilty pleas came just hours after the charges were initially announced and around the same time that Bankman-Fried landed in New York after he was extradited from the Bahamas.

His extradition comes amid criminal charges U.S. law enforcement brought against him tied to his role in FTX’s failure. He was expected to appear in a federal court in New York City on Thursday.

Read full report: https://www.foxbusiness.com/technology/associates-ftx-founder-sam-bankman-fried-plead-guilty-wire-fraud-other-charges-filed-sec.amp