DeFi

Planet

Caroline Ellison, former co-CEO of Alameda Research, is seeking a sentence of time served and supervised release instead of prison as her sentencing approaches on September 24. 
In their <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.497.0.pdf">recent court filing</a>, her attorneys highlighted her 
<blockquote>
 “extraordinary cooperation with the government”. 
</blockquote> 
They argued that a sentence of time served, followed by three years of supervised release, would be a fitting outcome.&nbsp; 
Ellison, who <a style="color: #0000ff;" href="https://abcnews.go.com/US/sam-bankman-frieds-girlfriend-ftx-founder-plead-guilty/story?id=95683343">admitted</a> guilt to charges of fraud related to FTX’s multibillion-dollar collapse, played a key role in the investigation by testifying against Sam Bankman-Fried during court proceedings last November. Ellison’s cooperation was instrumental in securing Bankman-Fried’s conviction on seven counts of fraud and conspiracy, which resulted in his 25-year prison sentence.&nbsp; 
Ellison’s legal team argued that she “poses no risk of recidivism and presents no threat to public safety,” emphasising that granting leniency would “promote respect for the law.” They highlighted her early disclosure of the crimes, full acceptance of responsibility, and significant cooperation with the government as key reasons for a more lenient sentence. 
The court filing also featured statements from John J. Ray III, CEO of the FTX bankruptcy estate, and Robert J. Cleary, the court-appointed examiner. Both praised Ellison for her significant contributions in helping to recover assets and for offering credible, reliable information during the investigation. 
<a href="https://defi-planet.com/2024/06/here-are-all-your-questions-about-ftx-answered/">FTX collapsed in November 2022</a> amid allegations of embezzlement involving billions in customer funds and its hedge fund affiliate, Alameda Research. Since then, the company has faced complex legal, regulatory, and criminal challenges in recovering its assets, valued in the billions. The court-appointed management team has struggled with the difficult task of locating and reclaiming these assets. Meanwhile, Bankman-Fried, the exchange’s founder, who was <a style="color: #0000ff;" href="https://www.google.com/amp/s/m.economictimes.com/markets/cryptocurrency/fallen-crypto-mogul-sam-bankman-fried-sentenced-to-25-years-in-prison/amp_articleshow/108866059.cms">sentenced</a> to 25 years in prison, was also ordered to repay $11 billion. 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi">Twitter</a>, <a href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/09/caroline-ellisons-attorneys-push-for-no-prison-time-highlight-cooperation-in-sam-bankman-frieds-conviction/">Caroline Ellison’s Attorneys Push for No Prison Time, Highlight Cooperation in Sam Bankman-Fried’s Conviction</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Caroline Ellison’s Attorneys Push for No Prison Time, Highlight Cooperation in Sam Bankman-Fried’s Conviction

DeFi Planet

Other articles published on Sep 11, 2024

Trump-Harris Debate Shakes Up Crypto Market

Dmail Set to Launch NFT Domains with Marketplace Integration

Unlock the Digital Art Goldmine: 5 NFT Marketplaces Dominating 2024

Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum

Web3 Payment Platform Bridge Raises $58M to Transform Global Payments with Stablecoins

GME meme coin dives as GameStop stock falls 15% after earnings

Join our free newsletter for daily crypto updates!