The post Caroline Ellison to dodge jail time in FTX case appeared on BitcoinEthereumNews.com.

Caroline Ellison, the ex-CEO of Alameda Research, is about to dodge prison time for her role in the collapse of FTX.  Her involvement? She helped steal billions from customers, lied to investors, and redirected those funds to cover the losses racked up by Alameda Research. While Sam Bankman-Fried, her ex-boyfriend and FTX’s founder, was found guilty on all charges and sentenced to 25 years in prison, Ellison struck a deal. She pled guilty to all charges and testified against him. Ellison’s part in FTX’s downfall Ellison had a big role in the crimes that took down FTX, which include two counts of wire fraud, two counts of conspiracy to commit wire fraud, and one count each for conspiracy to commit securities fraud, commodities fraud, and money laundering. If we look at the numbers, these charges could have landed her behind bars for up to 110 years. But she’s being rewarded for helping the prosecution take down the bigger fish—her ex. Ellison’s relationship with Bankman-Fried gave her unique insight into his operations. She was able to paint a personal image of the former crypto mogul for the court, something no one else could do apparently. Ellison agreed to her plea deal in December 2022 and began working closely with regulators, the FTX bankruptcy estate, and the US government. Bankman-Fried is still trying to prove his innocence from prison. Meanwhile, Ellison’s cooperation has earned her praise from prosecutors. She was the most important insider in the government’s case, according to former Assistant U.S. Attorney Kevin J. O’Brien. The federal Probation Department has already recommended a “time served” sentence with three years of supervised release.  According to the department, Ellison’s cooperation has been nothing short of “extraordinary.”  Former federal prosecutor Paul Tuchmann backed this, saying that it’s unlikely Ellison will ever harm anyone…

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Filed under: News - @ September 24, 2024 4:25 pm