JUST IN: Sam Bankman-Fried, the disgraced founder of FTX, will be released on $250 million bail and will remain in his parents' custody as he prepares to face criminal charges.
Williams has said that Bankman-Fried allegedly perpetrated one of the biggest frauds in U.S. history.
According to the Justice Department, as well as financial regulators, millions went to fund a lavish lifestyle for Bankman-Fried or were donated to politicians he was courting.While Bankman-Fried was en route on Wednesday night, Williams announced that two of his former friends and co-workers – Caroline Ellison and Gary Wang — pleaded guilty to fraud charges by the SDNY, and are cooperating with its investigation.
Ellison, who is often described as Bankman-Fried's ex-girlfriend, was CEO of Alameda. With Bankman-Fried, Wang founded FTX. An attorney for Ellison didn't respond to a request for comment, and a spokesperson for Bankman-Fried declined to comment.
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