Former Alameda Research CEO Caroline Ellison Asks To Be Spared Prison Sentence For Role In FTX Collapse
Attorneys for former Alameda Research CEO Caroline Ellison asked that she be spared a prison sentence for her role in the FTX collapse, citing her “extraordinary cooperation” in testifying against FTX founder Sam Bankman-Fried. In a Sept. 10 court filing , they noted that the Probabtion Department had recommended three years of supervised release instead, and highlighted Ellison’s key role in securing Bankman-Fried’s conviction. She faces up to 110 years in prison but is likely to receive a lighter sentence due to her assistance. Bankman-Fried Instructed Ellison To Compile False Balance Sheets Ellison provided the most damning testimony during Bankman-Friend’s trial, which subsequently led to his 25-year prison sentence. Ellison described how Bankman-Fried instructed her to compile misleading balance sheets for investors. She also revealed how the FTX founder pursued risky investments knowing full well that it would lead to a draw down for investors....