The former CEO of Alameda Research could be released on $250,000 bail but will not be allowed to leave the US.

One of the key witnesses in the ongoing FTX investigation could escape the seven counts against her with a plea bargain. Former Alameda Research CEO Caroline Ellison would be prosecuted under the deal only for tax crimes and could be released immediately on $250,000 bail.

The settlement between Ellison and the United States Attorney’s Office for the Southern District of New York was released December 21. According to the document, the former Alameda manager has been spared any major charges that could have convicted her. up to 110 years imprisonment.

Ellison was charged with seven counts. Two accused them of committing wire fraud to FTX customers and committing and conspiring to do so. Two others claimed she wire-wire swindled lenders from Alameda Research and conspired to do so. Count five charges her with conspiracy to commit commodity fraud and counts six charges of conspiring to commit securities fraud against investors in FTX shares. The seventh count charged her with conspiracy to launder money.

The district attorney’s office agreed not to prosecute Ellison on any of those seven counts in exchange for his cooperation – full disclosure of all information and documents requested by the district attorney’s office.

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The agreement does not protect Ellison from further charges Ellison may face from other authorities. It also excludes possible prosecution of criminal offenses in tax matters if these should be uncovered in court proceedings.

Federal prosecutors have agreed not to deny Ellison’s release on $250,000 bail, a restriction on travel from the United States and the release of all travel documents.

Meanwhile, former FTX CEO Sam Bankman-Fried is now in FBI custody and en route back to the United States, where he will be flown direct to the Southern Borough of New York to appear in court. judge.

Source: CoinTelegraph

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