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What will be the outcome of Caroline Ellison's plea deal for FTX fraud by the end of 2024?
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Story
Caroline Ellison Faces Sentencing Today with 48% Chance of Avoiding Prison
Sep 24, 2024, 02:20 AM
Caroline Ellison, the former CEO of Alameda Research and a key witness in the FTX trial, is set to be sentenced today for her role in the $8 billion fraud involving the now-bankrupt cryptocurrency exchange FTX. Ellison, who pleaded guilty to seven charges, has cooperated extensively with prosecutors, leading to speculation that she may avoid prison time. Polymarket traders suggest a 48% chance that Ellison will not serve jail time, and federal prosecutors have acknowledged her 'extraordinary' cooperation. Some sources even indicate a 41% chance of her avoiding jail. Former Bernie Madoff prosecutor Marc Litt also indicated it is unlikely Ellison will receive any prison time. Ellison's cooperation was instrumental in the conviction of FTX founder Sam Bankman-Fried, who is currently serving a 25-year prison sentence.
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