Judge Kaplan to Sentence Caroline Ellison on September 24; Ellison Seeks No Prison Time in FTX Case

Sep 11, 2024, 01:04 PM

Caroline Ellison, the former CEO of Alameda Research and a key cooperating witness in the FTX case, is set to be sentenced on September 24, 2024. Ellison's legal team has requested that she receive no prison time, citing her extensive cooperation with U.S. authorities in the investigation and prosecution of FTX founder Sam Bankman-Fried. They argue that her cooperation has been crucial in building the case against Bankman-Fried and other former FTX executives. Ellison has pleaded guilty to multiple charges including conspiracy to commit wire fraud and money laundering, which collectively carry a maximum penalty of 110 years in prison. Her attorneys have also requested that the names of individuals who submitted letters in support of a lenient sentence be kept confidential due to intense media scrutiny. Judge Kaplan will preside over the sentencing, and Ellison's attorneys have suggested a sentence of time served and three years of supervised release. John Ray, representing the FTX bankruptcy estate, is among those who have submitted letters in support of Ellison.