Caroline Ellison Spends 110 Years in Prison after Plea Guilty

  • Caroline Ellison is currently facing up to 110 years imprisonment as the former CEO at Alameda Research.
  • Ellison pleaded guilty to seven charges as part of her plea agreement, including wire fraud and securities fraud.
  • She also agreed to pay restitution for an amount to be determined in court.

After a plea agreement with the Department of Justice, Caroline Ellison, former CEO of Alameda Research faces a maximum sentence of 110 year imprisonment.

Ellison’s estimation is that it was. plea agreementDec 18th, with the Southern District of New York prosecutors

Ellison faces seven criminal charges that together carry a maximum of 110 years imprisonment under the plea agreement. These include conspiracy and securities fraud, commodities fraud, as well as conspiracy to commit wire fraud. She is also facing a conspiracy to commit money laundering charge.

Ellison has agreed not to defend the charges. She also agreed to pay restitution as per her agreement with the prosecutors. The amount will be determined by the courts.

Ellison must cooperate fully in her plea deal with prosecutors, FBI and other law enforcement agencies. She must also provide evidence, records, and documents to prosecutors and testify before a grand jury or in court trials if requested.

Insider did not receive a response from Ellison’s lawyer immediately.

Ellison was FTX cofounder Sam Bankman-Fried’s on-off girlfriend. She was also the chief of Alameda Research. This trading firm Bankman-Fried founded, was named after her. Gary Wang, cofounder FTX, was also a part of Alameda Research’s Bankman-Friede and Ellison teams.

Wang, like Ellison. pleaded guilty to fraudAccording to a Wednesday announcement by the US attorney for Southern District of New York 

November ReutersReports that Bankman-Fried secretly moved $10 billion in customer funds from FTX to Alameda Research.According to Reuters sources, a significant amount of the money has disappeared. The figure is between $1 and 2 billion. 

Bankman-Fried told Reuters that he “disagreed with the characterization” of the $10 billion transfer.

“We didn’t secretly transmit,” he said to Reuters in text messages that time. “We misread and confused internal labeling.”

Wednesday night, Bankman Fried was extradited from the BahamasThey landed back in America.

FTX filed for bankruptcy on November 11After it collapsed, decimating billions in customer funds overnight. Bankman-Fried resigned as CEO the same day.

Source link

[Denial of responsibility! is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – at The content will be deleted within 24 hours.]