Former Alameda Research CEO Caroline Ellison’s attorneys are advocating for a lenient sentence of time served and supervised release, citing her cooperation with prosecutors, FTX’s bankruptcy estate, and creditors. The presentence report aligns with this recommendation, proposing no prison term or fine for Ellison.
Ellison played a significant role in FTX’s operation and eventual collapse, testifying against FTX founder Sam Bankman-Fried, who was convicted on fraud and conspiracy charges. Following FTX’s bankruptcy in 2022, Ellison pleaded guilty to fraud and has since demonstrated exceptional cooperation with authorities.
In a recent filing, Ellison’s attorneys highlighted her early disclosure of crimes, acceptance of responsibility, and extensive cooperation as factors warranting leniency. The document delves into Ellison’s background, detailing her journey from college to Alameda Research, where she experienced personal challenges, including a tumultuous relationship with Bankman-Fried.
Supporting Ellison’s plea for leniency are diary entries, testimonials from colleagues, friends, and family, as well as commendations from the FTX bankruptcy estate CEO and attorneys involved in recovering funds for creditors. These insights shed light on Ellison’s character, motivations, and contributions during a turbulent period for FTX.
As the sentencing date approaches, the case underscores the complex dynamics within the crypto industry and the legal repercussions faced by key figures. Ellison’s trial, along with impending sentencing for other FTX executives, reflects the ongoing legal scrutiny within the cryptocurrency space.
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