Former Alameda Research CEO Asks Judge to Pardon Fraud Charges
The post Former Alameda Research CEO Asks Judge to Pardon Fraud Charges appeared on BitcoinEthereumNews.com.
Key Points: Former Alameda Research CEO Caroline Ellison has requested leniency from the court, citing her cooperation with prosecutors. Ellison will be sentenced on September 24, while two other former FTX executives, Nishad Singh and Gary Wang, will face sentencing later this year. According to Reuters, former Alameda Research CEO Caroline Ellison is asking for leniency from a federal judge after pleading guilty in connection with the collapse of the FTX cryptocurrency exchange. Read more: Bankman-Fried Appeal Promoted To Protest 25-Year Prison Sentence Former Alameda Research CEO Pleads for Leniency Following Guilty Plea in $8bn Fraud Case Ellison, 29, had been integral to an $8 billion fraud that led to the bankruptcy of FTX, a company once controlled by Sam Bankman-Fried. In a court filing submitted late Tuesday, Ellison’s lawyers urged U.S. District Judge Lewis Kaplan to spare her from prison, citing her cooperation with prosecutors in their case against Bankman-Fried, who was once her boyfriend. “From her first meeting with prosecutors, Caroline unflinchingly acknowledged her own wrongdoing,” her lawyer Anjan Sahni said in the filing, adding that she had been a “credible and important” witness. Sentencing Approaches in the Case of the Former FTX Executives The former Alameda Research CEO will be sentenced on September 24. Her testimony at Bankman-Fried’s trial was important because she and two other former FTX executives testified to how they had fraudulently used customer funds at Bankman-Fried’s instruction in an attempt to stem losses at Alameda Research. FTX’s collapse in late 2022 shook financial markets, and its rise and fall made Bankman-Fried one of the most stunning reversals of fortune in history. Bankman-Fried, 32, was sentenced last week to 25 years in prison for orchestrating one of the largest financial frauds in U.S. history. He has appealed the conviction. In her testimony, Ellison gave…
Filed under: News - @ September 11, 2024 5:24 pm