Prosecutors charge two top executives in connection with FTX collapse

FILE PHOTO: The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco Bello

WASHINGTON (Reuters) -Federal prosecutors on Wednesday said they have charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX) with defrauding investors in the crypto trading platform.

U.S. Attorney Damian Williams said in a video statement that both Wang and Ellison have pleaded guilty to the charges and have agreed to cooperate with prosecutors. He said that Sam Bankman-Fried, founder of FTX, is now in FBI custody and is on his way to the United States.