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Caroline Ellison Escapes Potential Prison Term, Not Allowed To Leave The United States

One of the key witnesses in the ongoing FTX inquiry may evade all the 7 counts of allegations against her with a plea deal. Caroline Ellison, the former CEO of Alameda Research would only be prosecuted for criminal tax violations under the agreement and could be released immediately on 250k USD bail.

The plea deal between Ellison and the Office of the United States Attorney for the Southern District of New York was published on 21st December. As per the document, the former Alameda executive will be spared of all crucial charges, which might have seen her sentenced to up to one hundred and ten years in prison.

Notably, Ellison was accused of 7 counts. The Attorney’s Office agreed not to institute legal proceedings against Ellison on any of those 7 counts in exchange for her cooperation. This includes the complete disclosure of all the information and documents demanded by prosecutors.

In the meantime, the former chief executive officer of FTX, Sam Bankman-Fried, is now in the custody of the Federal Bureau of Investigation and on his way back to the U.S., where he will be transported directly to the Southern District of New York to appear before a judge.

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