On August 19 the CFTC closed its cases against the former Alameda CEO and the FTX co-founder
A timeline in three dates:
• 23.12.2022 — the Southern District of New York found Caroline Ellison liable on two fraud counts and Gary Wang on one
• 18.08.2026 — the court entered supplemental consent orders
• 19.08.2026 — the Commission announced the actions are resolved
Ellison takes a five-year trading ban and a ten-year registration ban; Wang, five and eight. The clock runs from December 2022, so both can trade again from late 2027.
No penalties, no disgorgement. The reason is their cooperation, plus the $11.020 billion forfeiture order they are already jointly liable for in the criminal case.
#regulation
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A timeline in three dates:
• 23.12.2022 — the Southern District of New York found Caroline Ellison liable on two fraud counts and Gary Wang on one
• 18.08.2026 — the court entered supplemental consent orders
• 19.08.2026 — the Commission announced the actions are resolved
Ellison takes a five-year trading ban and a ten-year registration ban; Wang, five and eight. The clock runs from December 2022, so both can trade again from late 2027.
Today’s resolution further underscores the high value this Division places on robust cooperation
— David I. Miller, Director of Enforcement
No penalties, no disgorgement. The reason is their cooperation, plus the $11.020 billion forfeiture order they are already jointly liable for in the criminal case.
#regulation
🔗 My channels: Youtube • X • LinkedIn • Instagram • Threads