U.S. Attorney Damian Williams said in a video statement that both Wang and Ellison have pleaded guilty to the charges and have agreed to cooperate with prosecutors.

The U.S. Securities and Exchange Commission in a separate statement said it has also charged Ellison and Wang for their roles in a multi-year scheme to defraud equity investors of FTX.

(Reporting by Chris Prentice; Editing by Christopher Cushing)