Caroline Ellison told a judge that FTX executives secretly borrowed billions from Alameda Research, report says
with the Justice Department. The court unsealed the transcript of her plea hearing on December 22.
FTX cofounder Gary Wang also pleaded guilty. The plea deals that they both have struck with federal prosecutors in New York freed them each on bonds of $250,000. Ellison and Wang are now cooperating with prosecutors as part of their plea agreements. Wang said during his plea hearing on December 19 that he was directed to change FTX code to give Alameda special privileges on the trading platform.
Ellison has agreed to waive any defenses to the charges. Per her deal with prosecutors, she also agreed to pay restitution that is yet to be determined. She must also provide documents, records, and evidence to prosecutors, as well as testify to a grand jury or at court trials when requested.In November,
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Caroline Ellison Apologized for Misconduct in FTX CollapseCaroline Ellison, the former chief exectuive of Sam Bankman-Fried’s crypto-trading firm Alameda Research, apologized in court this week as she pleaded guilty to fraud and other offenses. “I knew that it was wrong,” the 28-year-old said.
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Caroline Ellison Apologizes for Misconduct in FTX CollapseCaroline Ellison, the former chief exectuive of Sam Bankman-Fried’s crypto-trading firm Alameda Research, apologized in court this week as she pleaded guilty to fraud and other offenses. “I knew that it was wrong,” the 28-year-old said.
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Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea dealCaroline Ellison acknowledged the financial ties between FTX and Alameda at the center of U.S. prosecutors’ case against former FTX CEO Sam Bankman-Fried.
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Caroline Ellison's Testimony Claims FTX Boss SBF Directed Her to Co-Mingle Customer Funds Since 2019 – Bitcoin News“From 2019 to 2022, I was aware that Alameda was provided access to a borrowing facility on FTX,' ex-Alameda CEO Caroline Ellison said.
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