Alameda Research’s Caroline Ellison avoids potential 110 sentence with plea deal

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Crypto Regulation
Alameda Research’s Caroline Ellison avoids potential 110 sentence with plea deal

Caroline Ellison, former CEO of Alameda Research, could potentially avoid all seven counts of allegations against her in the ongoing FTX investigation through a plea deal with the Office of the United States Attorney for the Southern District of New York.

The deal, which was published on December 21, states that Ellison will only be charged with criminal tax violations and can be released immediately upon paying a $250,000 bail. In exchange for her cooperation, including the complete disclosure of all requested information and documents, the Attorney’s Office agrees not to prosecute Ellison on any of the seven counts.

However, the agreement does not provide protection against any other charges that Ellison may face from other authorities, nor does it exclude the possibility of prosecution for criminal tax violations if they are revealed in court proceedings. The Office will not object to Ellison’s release on the stated bail conditions.

Meanwhile, former CEO of FTX, Sam Bankman-Fried, is currently in FBI custody and on his way back to the US, where he will appear before a judge in the Southern District of New York. Just yesterday, he signed paperwork waiving an extradition hearing from the Bahamas to face the proceedings in the United States to face his criminal charges.

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