- Alameda Research CEO Caroline Ellison is entering a plea agreement with the U.S. Department of Justice.
- The Southern District of New York is promising $250,000 bail and no further FTX-related prosecution (except for potential tax violations) if she pleads guilty to seven criminal charges.
- Ellison faces up to 110 years in prison for these counts alone.
Sam Bankman-Fried’s partners in crime, Alameda CEO Caroline Ellison and FTX co-founder Gary Wang, are both cooperating with the U.S. Department of Justice.
$250,000 Bail for Full Cooperation
Caroline Ellison is cooperating with the Justice Department.
A plea agreement between former Alameda Research CEO Caroline Ellison and the Southern District of New York was unsealed yesterday. The document, which was written on December 18, indicates that Ellison is willing to plead guilty to seven charges for the part she played in 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 money laundering.
These are the same charges that were brought against former FTX CEO Sam Bankman-Fried (he is also accused of conspiracy to defraud the United States and violate campaign regulations). The charges against Ellison carry a maximum sentence of 110 years in prison.
In return for Ellison’s full cooperation, the SDNY has offered to not prosecute her for any further crimes related to FTX, with the exception of potential tax violations. With regards to the seven aforementioned counts, the SDYN will formally request the court to consider Ellison’s assistance to the investigation when sentencing her.
Ellison will also be granted bail if she can provide a $250,000 bond. She is not allowed to leave the continental United States and must surrender all of her travel documents.
The Securities and Exchange Commission and Commodity Futures Trading Commission have also both filed charges against Ellison and FTX co-founder Gary Wang. U.S. Attorney Damian Williams revealed yesterday that Wang was cooperating with authorities alongside Ellison.
Disclaimer: At the time of writing, the author of this piece owned BTC, ETH, and several other crypto assets.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Alameda’s Caroline Ellison Enters Plea Agreement with DOJ
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or another qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
#Alamedas #Caroline #Ellison #Enters #Plea #Agreement #DOJ