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Caroline Ellison, the former CEO of Sam Bankman-Fried’s Alameda Research, is asking for no jail time despite pleading guilty to seven charges.
Ellison, who dated Bankman-Fried, is staring down a maximum sentence of 110 years in prison but struck a deal with prosecutors after testifying against her ex-boyfriend and former boss. She copped to charges of conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.
“Caroline Ellison is a young person of enormous talent and promise, with a deep commitment to helping others,” her lawyers said in a Tuesday sentencing memorandum, according to Business Insider.
Ellison, 29, is “focused on rebuilding her life and resolving the civil cases and other consequences arising from her acts at Alameda Research,” the lawyers said.
“Caroline is engaged in volunteer work and writing projects (unrelated to FTX) including a math textbook and works of fiction,” her lawyers added. She is scheduled to be sentenced on September 24.
Bankman-Fried was sentenced to 25 years in prison after pleading guilty to seven criminal counts.
Ellis testified at Bankman-Fried’s trial that her former boss and boyfriend corrupted her values. She also admitted they both lied for years.
When the company failed, she said she “felt this sense of relief that I didn’t have to lie anymore, and that I could start taking responsibility even though I felt indescribably bad.”