Embattled Caroline Ellison Plea Deal Saves Alameda’s Former CEO Lengthy Imprisonment
Documents published by the US attorney in the Southern District of New York (SDNY) office revealed the potential release of Caroline Ellison on $250,000 bail. The documents regarded Ellison as a key witness in the FTX proceedings. While the plea deal could save her from all seven allegations, Ellison was prohibited from leaving the US.
Ellison Charged with 7 Counts Allegations
The plea bargain agreement is set to relieve Ellison from the 7-counts allegations; she may face additional charges related to criminal tax violations. The publication of the plea deal on December 21 signals the SDNY attorney dropping the major charges facing the former chief at Alameda Research. Its implementation will save her a lengthy service that speculators approximate to 100 years.
The documents show Ellison was charged on seven accounts alleging misconduct and wrongdoing that led to FTX’s collapse. The initial two charges claimed Ellison conspired and defrauded customers using wire transfers. The subsequent charges relate to plotting and perpetrating wire fraud on Alameda Research lenders.
The fifth count involved Ellison’s conspiracy in commodities fraud, while the sixth claimed securities fraud on the equity investors within FTX. The final account involved her input in committing money laundering.
Strict Bail Terms
The SDNY office cites Ellison’s cooperation in dropping the seven counts. However, the attorney’s office compelled Elisson to honor disclosure requests by the prosecutors of information and documents in her possession.
The agreement rules out extending the protection of Ellison if charged by other authorities. In particular, the plea deal agreement indicated that Ellison was excluded from suits related to criminal tax violations if discovered during the court proceedings.
The federal prosecutors refrained from objecting to the former chief executive’s motion to seek release under the $250,000 bond. However, the prosecutors expressed satisfaction with the restriction of Ellison from leaving the US. In addition, Ellison was directed to surrender her travel documents.
Elsewhere, the attorney’s office acknowledged that Sam Bankman-Fried is set for arrival after waiving rights for a lengthy extradition process. The attorney added that Bankman-Fried would appear in person before the SDNY judge. The announcements suggest an increased appetite to seek justice for customers and lenders whose digital wealth remains trapped or forever lost in FTX.
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