- Caroline Ellison’s sentencing has been scheduled for September 24, 2024, following her cooperation in the investigation against FTX
- Her attorneys have argued for leniency, citing her substantial cooperation with prosecutors and the FTX bankruptcy estate
- Ellison’s legal team has also requested to redact personal details from her sentencing memo to protect her privacy and safety
Caroline Ellison, the former CEO of Alameda Research and a key figure in the FTX collapse, will face sentencing on September 24. Ellison’s attorneys are advocating for leniency, proposing time served and supervised release instead of jail time, arguing that Ellison has been cooperative throughout the investigation. Ellison testified against Sam Bankman-Fried and assisted in recovering funds for FTX creditors, which she hopes will work in her favour.
“Extraordinary Cooperation” Deserves Leniency, Say Attorneys
Ellison took a plea deal with the Department of Justice in December 2022, agreeing to assist in their prosecution of Sam Bankman-Fried in return for a more lenient sentence. Her role in the downfall of FTX and Alameda Research has been widely scrutinized, yet her attorneys argue that she should avoid prison time due to her “extraordinary cooperation.”
In a filing, they highlighted her proactive efforts in working with the bankruptcy estate and aiding creditors in recovering assets. Notably, Ellison played a crucial role in the prosecution’s case against Bankman-Fried, which contributed to his conviction on fraud and conspiracy charges.
Media Contests Diary Redactions
Ellison’s legal team has submitted personal documents, including diary entries, to provide insight into her mental state and experiences during her time at Alameda Research. However, they requested the court to redact some sensitive details, including medical information and the identities of her supporters. The court has granted these redactions, but media outlets have contested the decision, arguing for transparency.
While Ellison’s attorneys are pushing for leniency, the ultimate decision rests with the court. If granted, Ellison’s sentence could contrast sharply with the fates of other FTX executives like Nishad Singh and Gary Wang, who are also awaiting sentencing.
