Caroline Ellison and three other former FTX executives have accepted an SEC penalty and signed a settlement agreement, being barred from serving as executives or directors for 8-10 years.

BlockBeats News, December 20th, according to Coindesk report, the U.S. SEC has issued a litigation notice stating that three former executives of FTX and its affiliates have accepted the SEC's final penalties, and the SEC is handling enforcement cases related to the exchange's closure.

Former CEO Sam Bankman-Fried is still serving a federal prison sentence for fraud, while former CEO of Alameda Research under him, Caroline Ellison, and other executives have agreed to a settlement agreement that is still subject to court approval. Other executives who have signed settlement agreements include former CTO of FTX Trading Zixiao Wang and former Co-Chief Engineer of FTX Nishad Singh.

The SEC stated that the three of them will be barred from serving as executives or directors in other companies, with Caroline Ellison's ban lasting for 10 years and the others for 8 years. The agency also stated that they are subject to a five-year "conduct restriction."