Alameda Research

Caroline Ellison has been free on bail since her guilty plea in 2022, testifying at Sam Bankman-Fried’s criminal trial and subject to intense scrutiny by the media.

Former Alameda Research CEO Caroline Ellison is expected to report to prison on Nov. 7 to serve her two-year sentence for her role in crimes at cryptocurrency exchange FTX.

At the time of publication, the Federal Bureau of Prisons (BOP) website stated Ellison was not in custody but provided an inmate number and her age, race and sex. On Sept. 24, Judge Lewis Kaplan of the United States District Court for the Southern District of New York sentenced Ellison to two years in prison, where she is expected to surrender no earlier than Nov. 7.

Source: Federal Bureau of Prisons

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Lawyers representing the former Alameda Research CEO have requested time served and supervised release — an outcome that appeared more likely after a filing by US Attorneys.

Former Alameda Research CEO Caroline Ellison, set to face a sentencing hearing on Sept. 24, may receive a lenient sentence after a recommendation from United States prosecutors. 

In a Sept. 17 filing in the US District Court for the Southern District of New York, US Attorneys wrote to Judge Lewis Kaplan to inform him of Ellison’s “extraordinary cooperation” in the prosecution of former FTX CEO Sam “SBF” Bankman-Fried, as well as her assistance into the “wrongdoing at Alameda Research and FTX.” According to prosecutors, she provided “credible and compelling testimony” against Bankman-Fried at trial and was “forthcoming about her own grave misconduct” in FTX’s collapse. 

“Ellison played a core role in Bankman-Fried’s criminal schemes, but as the Government noted in Bankman-Fried’s sentencing submission, only he was involved in all aspects of the schemes,” said the filing. “Ellison never worked at FTX and played no role in designing the coding systems that granted Alameda special treatment on FTX and permitted Alameda to accrue a negative balance on FTX by withdrawing FTX customer funds.”

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