FTX founder Sam Bankman-Fried’s top associates have agreed to cooperate with authorities.

Caroline Ellison, CEO of Alameda Research, a cryptocurrency trading firm founded by Bankman-Fried, and Gary Wang, who co-founded FTX, secretly pleaded guilty to criminal charges, according to a federal prosecutor.

Both associates pleaded guilty to wire fraud, securities fraud, and commodities fraud. In total, Ellison pleaded guilty to seven counts, and Wang pleaded guilty to four counts, according to The Wall Street Journal.

“They are both cooperating with the Southern District of New York,” U.S. Attorney Damian Williams said Wednesday night in a video statement released on social media.

Williams also said that anyone who participated in the fraud should reach out to his office because “our patience is not eternal,” and further criminal charges against others were possible.

Ellison and Wang’s surprise guilty pleas were announced while Bankman-Fried was being extradited from the Bahamas by U.S. law enforcement to face charges tied to his role in FTX’s failure.

Prosecutors did not publicly reveal that Ellison and Wang were facing potential criminal charges or that they had pledged to work with investigators before Bankman-Fried was en route to the U.S.

As The Dallas Express previously reported, Bankman-Fried waived his right to deny extradition to the U.S. and is being extradited to face criminal charges for defrauding customers, lenders, and investors, and making illegal political donations — a total of eight criminal counts.

Following his arrival in the U.S., a federal judge on Thursday released Bankman-Fried on the condition of house arrest after he posted a $250 million bond.

Bankman-Fried is facing a possible life sentence if convicted.

Without a deal, Ellison was facing up to 110 years in prison, while Wang was facing up to 50 years.

Thus, the promise that prosecutors would recommend a reduction in their sentences if they cooperated fully in the investigation likely played a role in Ellison and Wang’s decisions to sign plea agreements on December 19.

On Wednesday, the Securities and Exchange Commission filed a parallel civil complaint against Wang and Ellison, calling them “active participants” in Bankman-Fried’s alleged scheme to defraud FTX investors and steal from customers.

More specifically, Wang is cited in the SEC’s press release as having allegedly created the software code that allowed Alameda to divert FTX customer funds. Ellison then allegedly used the misappropriated funds for Alameda’s trading activity.

After their secret court appearances, both Ellison and Wang were released on $250,000 bail, with travel restricted to the continental U.S.

“Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness,” according to Wang’s lawyer, Ilan Graff.