SEC Bars Former Alameda Research Executives from Serving as Corporate Officers or Directors for Up to 10 Years
The U.S. Securities and Exchange Commission (SEC) has proposed final consent judgments in the Southern District of New York against former Alameda Research and FTX executives Caroline Ellison, Gary Wang, and Nishad Singh. These judgments prohibit them from committing securities-law violations and bar them from serving as officers or directors at publicly traded companies for extended periods.
Caroline Ellison faces a 10-year ban on serving as a corporate officer or director. She is also subject to securities-trading restrictions and was recently released from prison after serving 11 months of a two-year sentence; she originally faced a sentence of up to 110 years. Gary Wang and Nishad Singh each face eight-year bans on serving as officers or directors, along with restrictions on handling securities. Both have also served prison time and are subject to three years of supervised release.
Ellison, Wang, and Singh cooperated with prosecutors and testified against Sam Bankman-Fried at his criminal trial. Bankman-Fried was sentenced to 25 years in prison for stealing at least $8 billion and other charges; he is currently appealing the sentence. The three executives have agreed to the proposed consent terms without admitting or denying the SEC’s allegations.
These regulatory actions are part of ongoing efforts related to the collapse of FTX and Alameda Research and the broader government case against Sam Bankman-Fried.
