Two of Bankman-Fried's former deputies, Caroline Ellison (former CEO of Alameda Research) and Gary Wang (co-founder of FTX), pleaded guilty to charges and are cooperating with the Southern District of New York.

According to FTX executives, Sam Bankman-Fried, Caroline Ellison, Nishad, and Gary Wang decided to dip into FTX customer funds to pay back Alameda's loans instead of letting Alameda go bankrupt.

Samuel Bankman-Fried was taken into FBI custody and transported to the Southern District of New York.