U.S. prosecutors released more details on the criminal charges that former Alameda Research CEO Caroline Ellison and FTX co-founder and former CTO Gary Wang pled guilty to earlier this week.

The amount of fraud both admitted to technically comes with the possibility of spending decades in prison, according to unsealed guilty pleas from the pair for criminal charges connected to the collapse of the failed cryptocurrency exchange. But neither is likely to serve close to the maximum sentencing for their crimes after pleading guilty and cooperating with investigators. 

The U.S. Attorney's Office for the Southern District of New York noted that the maximum sentences are provided for "informational purposes only," with any sentence determined by a judge. Plea deals usually come with agreements in place between prosecutors and defendants in order to reduce the amount of prison time cooperating defendants face. 

(by Nathan Crooks)