United

Gary

Time

Caroline Ellison, the former CEO of Alameda Research, may avoid prison time despite pleading guilty to seven felony charges tied to the collapse of FTX.&nbsp; 
Ellison’s legal team filed a <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.590940/gov.uscourts.nysd.590940.497.1.pdf" target="_blank" rel="noreferrer noopener nofollow">file</a> on September 10 in the United States District Court for the Southern District of New York, containing letters from friends, coworkers, and family members suggesting that Ellison receive a lenient sentence. 
At the former Alameda CEO’s hearing on September 24, the counsel suggested that she be sentenced to time served with three years of supervised release, under the Probation Department’s [PSR] guidelines. 
The filing stated that the PSR recommends leniency due to Caroline’s exceptional cooperation, spotless record, and numerous testimonials of her honesty before and after Alameda. She poses no risk of reoffending or threat to public safety, and leniency would reflect her early admission, full responsibility, and extensive cooperation. 
The filing included 34 letters from friends, family, and colleagues attesting to her honesty and ethical behavior before her involvement with Alameda. 
Ellison, who pleaded guilty to charges of wire fraud, commodities fraud, securities fraud, and money laundering in December 2022, played a central role in Alameda’s misappropriation of FTX customer funds. As part of her plea deal, she testified against former FTX CEO Sam Bankman-Fried in his trial, where she admitted to falsifying balance sheets to downplay the risks of Alameda’s activities. 
The defense also highlighted Ellison’s struggles since FTX’s collapse, including failed attempts to find a job due to her notoriety and criminal case. Instead, she has dedicated over 700 hours to community service. The sentencing memo referenced Bankman-Fried’s pressure on her to use Adderall to combat fatigue during her time at Alameda, further adding context to her situation. 
Ellison’s sentencing hearing is set for September 24, and while she faces a potential maximum sentence of 110 years, legal experts believe a long prison sentence is unlikely, given her cooperation. Other key FTX figures, including Nishad Singh and Gary Wang, are awaiting sentencing in the coming months. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/22/former-ftx-exec-salame-challenges-guilty-plea-agreement/" target="_blank" rel="noreferrer noopener">Former FTX Exec Salame Challenges Guilty Plea Agreement</a> 
</blockquote>

Caroline Ellison Seeks Time Served For Gov’t Cooperation

The Crypto Times

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