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Caroline Ellison, former CEO of Alameda Research, has agreed to turn over all her remaining assets to FTX debtors to settle a lawsuit filed against her by the bankruptcy estate.
In an Oct. 7 filing, <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MzIxNjYzMw==&amp;id2=-1" target="_blank" rel="noopener noreferrer nofollow">the document</a> states that <a href="https://crypto.news/tag/ftx/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> and <a href="https://crypto.news/what-to-know-about-ftx-star-witness-caroline-ellison/" target="_blank" rel="noopener noreferrer nofollow">Caroline Ellison</a> have agreed on a settlement deal that requires the former CEO of <a href="https://crypto.news/tag/alameda-research/" target="_blank" rel="noopener noreferrer nofollow">Alameda Research</a> to return all her remaining assets “not otherwise forfeited to the government or used to pay certain eligible legal fees”.
Aside from returning her remaining assets, Ellison has also agreed to transfer any equity and ownership rights that she may hold over cryptocurrency assets.
By doing so, the FTX bankruptcy estate sought to recover approximately more than $30 million in the form of equity and bonus payments received by Ellison from the firm in the period between December 2020 until February 2022.
FTX went bankrupt in November 2022. The company’s downfall was riddled with accusations of fraud and mismanagement aimed at both the exchange and its sister company, Alameda Research.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/what-to-know-about-ftx-star-witness-caroline-ellison/"> What you need to know about FTX star witness Caroline Ellison </a>
As part of her agreement with FTX, Caroline Ellison has vowed to cooperate extensively with debtors in the ongoing investigations into the collapse of the firm.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Ellison has also committed to cooperating with the Debtors in ongoing investigations and litigation — a benefit that the Debtors would not be able to obtain even if they prevailed at trial against Ellison”
</blockquote>
In Sept. 2024, Ellison was sentenced to <a href="https://crypto.news/tag/alameda-research/" target="_blank" rel="noopener noreferrer nofollow">two years in prison</a> by District Judge Lewis A. Kaplan for her involvement in the FTX crypto fraud case. Many were quick to point out how light her sentence was, especially compared to FTX founder Sam Bankman-Fried, who was sentenced to 25 years in prison.
It was revealed in court that Ellison received a relatively lighter sentence due to an early guilty plea and the fact that her cooperation became the key to uncovering the scale of Bankman-Fried’s crimes.
Despite her assistance in the case, Ellison still would have to forfeit around $11 billion on fraud and money laundering charges.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/why-did-caroline-ellison-get-such-a-light-sentence/"> Why did Caroline Ellison get such a light sentence? </a>

Caroline Ellison turns in all her assets in FTX lawsuit settlement

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