Alameda’s Caroline Ellison Enters Plea Settlement with DOJ


Key Takeaways

  • Alameda Analysis CEO Caroline Ellison is coming into a plea settlement with the U.S. Division of Justice.
  • The Southern District of New York is promising $250,000 bail and no additional FTX-related prosecution (apart from potential tax violations) if she pleads responsible to seven prison prices.
  • Ellison faces as much as 110 years in jail for these counts alone.

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Sam Bankman-Fried’s companions in crime, Alameda CEO Caroline Ellison and FTX co-founder Gary Wang, are each cooperating with the U.S. Division of Justice.

$250,000 Bail for Full Cooperation

Caroline Ellison is cooperating with the Justice Division.

A plea settlement between former Alameda Analysis CEO Caroline Ellison and the Southern District of New York was unsealed yesterday. The doc, which was written on December 18, signifies that Ellison is keen to plead responsible to seven prices for the half she performed within the FTX fraud.

The SDNY is charging Ellison with counts of conspiracy to commit wire fraud, wire fraud, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit cash laundering. 

These are the identical prices that have been introduced in opposition to former FTX CEO Sam Bankman-Fried (he’s additionally accused of conspiracy to defraud the US and violate marketing campaign rules). The costs in opposition to Ellison carry a most sentence of 110 years in jail.

In return for Ellison’s full cooperation, the SDNY has provided to not prosecute her for any additional crimes associated to FTX, except for potential tax violations. On the subject of the seven aforementioned counts, the SDYN will formally request the court docket to contemplate Ellison’s help to the investigation when sentencing her.

Ellison may also be granted bail if she will be able to present a $250,000 bond. She shouldn’t be allowed to depart the continental United States and should give up all of her journey paperwork. 

The Securities and Alternate Fee and Commodity Futures Buying and selling Fee have additionally each filed prices in opposition to Ellison and FTX co-founder Gary Wang. U.S. Lawyer Damian Williams revealed yesterday that Wang was cooperating with authorities alongside Ellison.

Disclaimer: On the time of writing, the creator of this piece owned BTC, ETH, and a number of other different crypto property.

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