Sam Bankman-Fried's ex-girlfriend and his FTX co-founder both plead GUILTY to federal charges 

Sam Bankman-Fried's FTX co-founder, as well as his ex-girlfriend, have both pleaded guilty to federal fraud charges, entering the pleas in the Southern District of New York Court. 

U.S. authorities announced the charges in a statement Wednesday, revealing the two top executives as FTX's Gary Wang and former Alameda Research co-CEO Caroline Ellison, who once dated the embattled crypto crook.

SBF faces eight charges which include allegedly conning investors out of $1.8billion by diverting cash to his private crypto hedge fund Alameda Research, run by his 28-year-old ex-girlfriend.

The pair have been charged 'in connection with their roles and the frauds that contributed to FTX's collapse,' U.S. Attorney Damian Williams said in a video statement Wednesday, as 30-year old Bankman-Fried - who faces wire fraud charges in relation to relation to his exchange's monumental collapse last month - was confirmed to be in FBI custody after being extradited from the Bahamas.

Williams added that after entering their pleas, both Wang and Ellison - two of the top executives at Bakman-Fried's collapsed empire - are co-operating with New York officials in their case against the FTX founder.

Bankman-Fried, meanwhile, is set to be in SDNY court imminently, after being arrested by FBI officials while traveling from the Bahamas. 

He has been charged with orchestrating a multiyear fraud that diverted billions in customer money for personal uses, including buying millions of dollars of real estate on the Carribean islands. 

Prosecutors contend he defrauded customers, investors and lenders involved with his now defunct crypto firm, which was once one of the biggest in the world before its sudden fall last month.

The U.S. Securities and Exchange Commission said 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.