Ex-Alameda CEO Caroline Ellison pushes for no prison sentence in FTX role

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Worn Alameda CEO offered key testimony against Bankman-Fried, citing misleading practices and awful investments.

Caroline Ellison, broken-down CEO of Alameda Research, is asking for to lead positive of prison time for her involvement in the FTX give diagram.

As reported by Bloomberg, her attorneys filed a memo to a Long island federal judge, citing her “quick and total acceptance of accountability” and “extraordinarily impactful cooperation” as grounds for leniency.

Ellison, who testified for 3 days as a govt notice in Sam Bankman-Fried’s fraud trial, became one among four prime FTX figures to plead guilty to legal offenses.

Her testimony became crucial, revealing how Bankman-Fried instructed her to set misleading balance sheets for buyers and originate awful investments utilizing customer funds.

“Caroline poses no possibility of recidivism and items no possibility to public security,” her attorneys acknowledged in the memo.

This question comes after Bankman-Fried, FTX’s co-founder, bought a 25-yr prison sentence. One other broken-down govt, Ryan Salame, became sentenced to 7.5 years in prison but, not like Ellison, didn’t signal a cooperation settlement or testify on the trial.

Ellison’s cooperation, in conjunction with that of Nishad Singh and Gary Wang, stands in distinction to Salame’s case, doubtlessly influencing the court’s resolution on her sentencing.

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The broken-down Alameda CEO became hit with charges linked to money laundering, wire fraud, securities fraud, commodities fraud, and conspiracy to commit these actions, which would possibly perchance also honest close up in as much as 110 years in prison.

On the opposite hand, Ellison reached a plea take care of prosecutors from the Southern District of Unusual York (SDNY) on December 18, 2022. Her deal consisted of talking the reality in alternate for not being prosecuted criminally by the US Attorney’s Situation of work for the SDNY.

Severely, the broken-down Alameda govt just isn’t off the hook for legal tax violations and would possibly perchance composed be prosecuted for these offenses.