Caroline Ellison to Be Sentenced on September 24th for Role in FTX Collapse

Former Alameda Research CEO, Caroline Ellison, is set to be sentenced on September 24th for her role in the FTX collapse. She may receive a lenient sentence based on the recommendation from U.S. prosecutors.

In court documents filed on September 17th, U.S. prosecutors stated that Ellison provided “highly cooperative” assistance in the case against former FTX CEO Sam Bankman-Fried, helping to investigate “the illegal activities of Alameda Research and FTX.” Prosecutors stated that she provided “credible and powerful testimony” for the trial and was candid about her serious misconduct in the FTX collapse.

While prosecutors seem to place the majority of the blame for the crimes on Bankman-Fried, they acknowledged Ellison’s “voluntary participation in misconduct” as CEO of Alameda.

Ellison previously pleaded guilty to seven counts of fraud and money laundering. Her lawyer has requested a sentence of time served and three years of supervised release.