Caroline Ellison seeks no jail for role in FTX collapse due to cooperation

Caroline Ellison, erstwhile co-CEO of Alameda Research, has requested nary jailhouse clip for her relation successful the FTX collapse, according to a Sept. 10 tribunal filing.

Her ineligible squad argued that her condemnation should beryllium constricted to clip served, followed by supervised release, due to the fact that of her extended cooperation with the authorities during Sam Bankman-Fried’s trial.

Further, the lawyers noted that the Probation Department recommended a time-served condemnation and 3 years of supervised release.

They stated:

“The Probation Department recommends a condemnation of clip served with 3 years of supervised release. The PSR grounds this proposal successful Caroline’s bonzer practice with the government, her different unblemished record, and the galore testimonials of Caroline’s honesty and ethical behaviour some earlier she started moving astatine Alameda and since she near Alameda.”

The defence besides argued that Ellison poses nary hazard of repeating her offenses and is not a menace to nationalist safety. They claimed that her aboriginal admittance of guilt, afloat responsibility, and extended practice warrant leniency and respect for the law.

Ellison’s cooperation

The tribunal filing besides contained statements from her erstwhile colleagues, friends, and family, illustrating however Ellison’s helpfulness aided the US authorities’ lawsuit against the incarcerated laminitis of the defunct crypto exchange.

Notably, John J. Ray III, the CEO overseeing FTX’s bankruptcy estate, credited Ellison’s assistance arsenic “valuable” successful stabilizing the speech during its collapse. He said her practice helped his squad support and sphere “hundreds of millions of dollars successful Debtor assets” to payment creditors and recognize FTX’s systems.

Meanwhile, attorneys representing people enactment lawsuits against FTX executives praised her contributions to recovering creditor funds.

Robert Cleary, the court-appointed examiner, echoed akin sentiments successful his little remarks astir Ellison’s helpfulness.

Additionally, the lawyers pointed retired that excerpts from Ellison’s diary supply insights into her mindset portion astatine Alameda. They besides noted that her romanticist feelings for him analyzable her enactment narration with Bankman-Fried.

The station Caroline Ellison seeks nary jailhouse for relation successful FTX illness owed to cooperation appeared archetypal connected CryptoSlate.