U.S. Government Recommends Lenient Sentence For Alameda Research CEO Caroline Ellison

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The U.S. government is recommending a lenient sentence for Caroline Ellison, former Alameda Research CEO and ex-girlfriend of Sam Bankman-Fried, following her “extraordinary” testimony in his landmark fraud case last fall.

In a new letter filed to U.S. Southern District of New York Judge Lewis A. Kaplan, prosecutors praised the former crypto executive for her “substantial assistance” in crafting the case against Bankman-Fried and “bringing the most culpable party to justice.”

9/17/2024: While crediting Caroline Ellison for her “candor” and “remorse”, the prosecutors did not mince words on criticism of Sam Bankman-Fried, the FTX psychiatrist, New York Times, and Ryan Salame. pic.twitter.com/DxLcjqQZUh

“The ‘what’ and ‘how’ of the crimes, as well as the ‘why,’ would have been difficult to prove without Ellison’s testimony,” prosecutors wrote.

Thanks to Ellison’s decision to testify, Bankman-Fried was ultimately sentenced and convicted for orchestrating a massive digital asset scheme that misappropriated over $8 billion of investor funds.

The FTX founder tried to discredit his former girlfriend in the leadup to his watershed trial by releasing writings from her personal journal detailing that she was “unhappy” and “overwhelmed” ahead of the crypto exchange’s collapse to “The New York Times” in July 2023; a move that saw SBF’s bail revoked for tampering with a witness.

Similarly, a therapist whom Ellison had confided in shared her personal information with “Moneyball” author Michael Lewis, who later published it in his book about Sam