Attorney: Caroline Ellison's Testimony and Cooperation with U.S. Authorities May Get Her Out of Prison in a Year

On Sept. 24, Caroline Ellison, the former CEO of Alameda Research, the hedge fund division of FTX, will be sentenced by Judge Lewis A. Kaplan, DL News reports. She faces seven criminal charges, including conspiracy to commit wire and securities fraud, which carry a maximum sentence totaling 110 years. However, Carl Volz, a Chicago securities attorney who has defended cryptocurrency clients, said Ellison will likely be sentenced to about two years in prison because of her role in FTX, but she could be out of prison sooner. according to Volz, “Depending on how the federal court system or the federal prison system operates, with good behavior she will be out of prison within one year out of prison. She could be on probation for quite a while, which would make her life difficult.”

According to Ellison's attorney, Ellison has been volunteering and writing a novel since the trial, and Ellison has also found comfort from a new partner. In a letter to Judge Ellison, one of her friends said she learned of the new relationship in October 2022. The friend described him as “a vast improvement over her ex-boyfriend SBF”. Her friend wrote: “Her new partner is honest and upstanding; he has an aversion to even well-intentioned lies in corporate politics. He has been quietly supporting her for the last year. I'm sure this new, friendly environment will be good for her.”

In previous news, US prosecutors said Caroline Ellison was highly cooperative in the SBF case.