1 year ago
Caroline Ellison, the CEO of Alameda Research, won’t look immoderate transgression charges for her relation successful the FTX fiasco. Ellison’s plea statement with a New York tribunal was unsealed connected Dec. 22, showing that she faces lone a good and forfeiture of assets for pleading guilty.
According to the agreement, she won’t beryllium prosecuted if Ellison continues cooperating with the Southern District of New York’s probe into FTX and Alameda. However, arsenic portion of her woody with the SDNY, Ellison volition not beryllium allowed to permission the U.S. and volition person to forfeit immoderate wealth oregon assets she gained from the wealth stolen from FTX.
She volition beryllium permitted a $250,000 bail and indispensable surrender her passport oregon different question documents.
However, the tribunal noted that the plea woody doesn’t exempt her from imaginable taxation violations. The tribunal filing said that her grounds against Sam Bankman-Fried and the remainder of the FTX and Alameda executives could beryllium utilized to prosecute her for taxation fraud.
Ellison isn’t unsocial successful her practice with the authorities. Gary Wang, the co-founder of FTX, is besides cooperating with the SDNY successful the national transgression lawsuit against Sam Bankman-Fried.
The $250,000 bail some Ellison and Wang received isn’t sitting good with the broader crypto community. However, galore noted that the magnitude was low, fixed their offenses and the assets they reportedly own.
In comparison, Arthur Hayes, the CEO of BitMEX, was released connected a $10 cardinal bail enslaved past spring. Hayes surrendered to U.S. authorities and pleaded blameworthy alongside 2 different executives for failing to support AML safeguards connected BitMEX and allowing U.S. residents to entree the exchange. Hayes was sentenced to six months of location apprehension and 2 years of probation.
The station Alameda CEO Caroline Ellison pleads guilty, faces nary transgression charges appeared archetypal connected CryptoSlate.
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