Caroline Ellison, former co-CEO of Alameda Analysis, has requested no jail time for her position within the FTX collapse, in response to a Sept. 10 court docket submitting.
Her authorized crew argued that her sentence needs to be restricted to time served, adopted by supervised launch, due to her intensive cooperation with the authorities throughout Sam Bankman-Fried’s trial.
Additional, the attorneys famous that the Probation Division advisable a time-served sentence and three years of supervised launch.
They acknowledged:
“The Probation Division recommends a sentence of time served with three years of supervised launch. The PSR grounds this advice in Caroline’s extraordinary cooperation with the federal government, her in any other case unblemished file, and the quite a few testimonials of Caroline’s honesty and moral conduct each earlier than she began working at Alameda and since she left Alameda.”
The protection additionally argued that Ellison poses no threat of repeating her offenses and isn’t a risk to public security. They claimed that her early request for forgiveness, full accountability, and intensive cooperation warrant leniency and respect for the regulation.
Ellison’s cooperation
The court docket submitting additionally contained statements from her former colleagues, mates, and household, illustrating how Ellison’s helpfulness aided the US authorities’ case in opposition to the incarcerated founding father of the defunct crypto trade.
Notably, John J. Ray III, the CEO overseeing FTX’s chapter property, credited Ellison’s help as “worthwhile” in stabilizing the trade throughout its collapse. He mentioned her cooperation helped his crew defend and protect “tons of of thousands and thousands of {dollars} in Debtor property” to profit collectors and perceive FTX’s methods.
In the meantime, attorneys representing class motion lawsuits in opposition to FTX executives praised her contributions to recovering creditor funds.
Robert Cleary, the court-appointed examiner, echoed related sentiments in his temporary remarks about Ellison’s helpfulness.
Moreover, the attorneys identified that excerpts from Ellison’s diary present insights into her mindset whereas at Alameda. In addition they famous that her romantic emotions for him sophisticated her work relationship with Bankman-Fried.
Ellison’s sentencing is ready for Sept. 24, 2024.
