The U.S. SEC is seeking to ban former core executives of FTX from serving as directors or executives of publicly traded companies for 8-10 years.

According to Odaily Planet Daily, the U.S. Securities and Exchange Commission (SEC) today filed a motion for a "final consent judgment" in the Southern District of New York against Caroline Ellison, former CEO of FTX-affiliated Alameda Research, Gary Wang, former CTO of FTX, and Nishad Singh, former chief engineer.

Under the settlement agreement, Ellison agreed to a 10-year ban on serving as an executive or director, while Wang and Singh agreed to an 8-year ban. None of the three denied the SEC's allegations of violating securities laws' anti-fraud provisions. The case stemmed from investor fraud uncovered after FTX's bankruptcy in November 2022.