Lawyers for Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, are recommending no prison time for their client’s role in the implosion of the crypto empire that was run by her former boss and ex-boyfriend.
Judge Lewis Kaplan, who presided over Bankman-Fried’s case, cited Ellison’s testimony when he decided in March to sentence the FTX founder to 25 years behind bars.
Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy.
Bankman-Fried forced Ellison into a sort-of isolation, culminating in her moral compass being “warped,” the lawyers say.
Her former roommates and ex-FTX executives, Nishad Singh and Gary Wang, will be sentenced in October and November, respectively.
Persons:
Caroline Ellison, Sam Bankman, Ellison, Judge Lewis Kaplan, FTX spiraled, “ Caroline, John Ray, “, Fried, disentangling, ”, ” She’s, that’s, ” Ellison, Nishad Singh, Gary Wang, — CNBC’s Dan Mangan
Organizations:
U.S, Alameda Research, court’s, Department, ”, Bankman
Locations:
FTX’s Bahamas, Alameda, Boston, Hong Kong, Bahamas, Bankman