Law

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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