22 Dec 2022
Caroline Ellison of Alameda Research avoids 110-year sentence with a plea deal
The United States Attorney's Office for the Southern District of New York is currently negotiating a plea deal with former Alameda Research CEO Caroline Ellison.
Former Alameda Research CEO Caroline Ellison could avoid all seven counts of allegations against her in the ongoing FTX investigation. The agreement was made public on December 21 and states that in exchange for $250,000 bail, Ellison will face criminal charges for tax evasion and be released immediately. Ellison has been promised immunity from prosecution on all seven counts in exchange for her full cooperation, which includes providing all information and documents requested by the Attorney's Office.
However, the agreement does not shield Ellison from criminal tax violations that may be revealed in other legal proceedings or from charges brought against him by other authorities. The Office has no objections to Ellison's release on bail. Meanwhile, former FTX CEO Sam Bankman-Fried has been taken into FBI custody and is returning to the United States, where he will be brought before a judge in the Southern District of New York. Earlier today, he signed paperwork consenting to his extradition from the Bahamas to the United States to face the proceedings concerning his criminal charges.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
