FTX case: $250,000 bail for Caroline Ellison

BargainingCaroline Ellison pleaded guilty in the FTX case, to obtain a plea agreement which should allow him to escape certain legal proceedings, and increase his chances of remaining free.

Caroline Ellison’s plea deal: some highlights

The New York Southern District Attorney’s Office has rendered audience the plea agreement, which contains in particular the conditions of release of Caroline Ellison.

To avoid prison, the former CEO of Alameda will not be able to leave American territory. She will have to hand over all her travel documents. Caroline Ellison must also pay $250,000, to qualify for bail.

The agreement also states that Caroline Ellison will not be not prosecuted, if she cooperated fully with investigators in the Southern District of New York. The former CEO of Alameda thus escapes prosecution from the prosecutor’s office or any other law enforcement agency designated by the latter, but she is not out of the woods for all that.

Caroline Ellison makes a deal with the district attorney's office.

>> You don’t trust the platforms to keep your cryptos? Ledger has the solution (commercial link) <<

Risk of prosecution for Caroline Ellison

Despite this agreement, Caroline Ellison could be prosecuted for possible tax offenseswhich relate to accusations of electronic fraud and fraud on the commodities. Other regulatory agencies may also initiate legal action at a later date.

In addition to these clauses on the conditions of release and exemptions from prosecution, the agreement also specifies that the former CEO of Alameda will be probably expelled from the United States, if she is not a US citizen. Although she is probably American, Caroline Ellison could have abandoned this citizenship in favor of other nationalities, for tax reasons.

Although this Agreement has been made available to the public, a judge has yet to approve it for it to be valid.

Given the magnitude of the consequences of the fall of FTX and its subsidiaries, Caroline Ellison is doing quite well with this agreement, if a judge validates it. After having agreed to his extradition to the United States, Does Sam Bankman-Fried also have a chance of obtaining an agreement which would allow him to radically reduce his sentence, failing to be able to retain his freedom?

In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!

Last Verdict

To get more updates about the insurance you can follow our website or can bookmark it.

Leave a Reply

Your email address will not be published. Required fields are marked *