Caroline Ellison

Caroline Ellison and Gary Wang worked closely behind the scenes on the impressive rise of crypto trading company FTX. They also helped to bring about its ...

In these early stages, Ellison was the only woman involved in the project. Ellison has been found guilty of seven charges which might land her 110 years in jail. One slightly unnerving element of this entire story is the living-working together situation. They have now filed additional civil fraud charges against Ellison and Wang. He could face up to 115 years in jail. She last tweeted from @carolinecapital in early November.

U.S. prosecutors on Dec. 13 charged FTX founder Sam Bankman-Fried with eight counts of fraud and conspiracy. Read the indictment here.

Ellison and Mr. Ellison’s plea agreement is here, and Mr. The SEC lawsuit is here and the CFTC lawsuit is here.\n\nOn late Wednesday, the SEC sued two of Mr.

Caroline Ellison and Gary Wang are cooperating with the Department of Justice. Even with her plea, Ellison faces 110 years in prison.

[Securities and Exchange Commission](https://www.sec.gov/news/press-release/2022-234) and [Commodity Futures Trading Commission](https://www.cftc.gov/PressRoom/PressReleases/8644-22) have also both filed charges against Ellison and FTX co-founder Gary Wang. In return for Ellison’s full cooperation, the SDNY has offered to not prosecute her for any further crimes related to FTX, with the exception of potential tax violations. The charges against Ellison carry a maximum sentence of 110 years in prison. Attorney Damian Williams [revealed](https://twitter.com/SDNYnews/status/1605745361842327552) yesterday that Wang was cooperating with authorities alongside Ellison. The SDNY is charging Ellison with counts of conspiracy to commit wire fraud, wire fraud, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering. - Alameda Research CEO Caroline Ellison is entering a plea agreement with the U.S.

Caroline Ellison and Gary Wang pleaded guilty to wire fraud and conspiracy charges including money laundering as part of Sam Bankman-Fried fraudulent FTX ...

(Ellison also [reportedly](https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/) dated Bankman-Fried for a time.) But after a judge in Nassau denied his bail request — forcing him to spend a week in the [cush medical block of a dilapidated prison](https://nymag.com/intelligencer/2022/12/how-sam-bankman-fried-spent-his-first-week-behind-bars.html) — SBF dropped his extradition fight, [apparently without telling his lawyer](https://www.bnnbloomberg.ca/sbf-sent-back-to-bahamian-jail-after-catching-lawyer-off-guard-with-u-s-extradition-plan-1.1861276) in the Bahamas he was doing so. [civil fraud charges](https://www.sec.gov/news/press-release/2022-234) filed by the Securities and Exchange Commission and the Commodity Futures Trading Commission. Ten days ago, he was planning to fight extradition to the United States from the Bahamas, where he ran FTX from a $30 million penthouse in which Wang and Ellison [also lived](https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/). The CFTC [also claimed](https://www.cftc.gov/PressRoom/PressReleases/8644-22) that Ellison helped Sam Bankman-Fried make misleading statements that Alameda and FTX operated independently from each other. This alleged scheme was key to making it look like Alameda didn’t actually lose the [billions in customer funds ](https://blockworks.co/news/ftx-lost-up-to-2b-in-user-funds-10b-sent-to-alameda-report)that FTX executives secretly moved over to their hedge fund — temporarily making it seem that everything was all right with Alameda’s balance sheet. [pleading guilty](https://www.documentcloud.org/documents/23495436-crypto-cooperator-ftx-alamedas-caroline-ellisons-plea-agreement-inner-city-press-on-the-case) to two counts of wire fraud and five conspiracy counts involving wire, securities, and commodities fraud and money laundering. officials in the Bahamas, there was another major development in the investigation over alleged fraud at [FTX](https://nymag.com/intelligencer/2022/12/who-gets-ftxs-and-sam-bankman-frieds-money-now.html). [Sam Bankman-Fried](https://nymag.com/intelligencer/article/sam-bankman-fried-ftx-interview.html) was handed over to U.S. custody, where his attorneys are now [trying to get him out on bail](https://www.nytimes.com/2022/12/20/technology/sam-bankman-fried-bail.html). [is facing](https://www.justice.gov/usao-sdny/pr/united-states-attorney-announces-charges-against-ftx-founder-samuel-bankman-fried) two counts of wire fraud and many more conspiracy charges for orchestrating what [prosecutors have called](https://nymag.com/intelligencer/2022/12/sam-bankman-fried-has-been-arrested.html) “one of the biggest financial frauds in American history.” In the last week or so, his situation has changed considerably. “We are moving quickly, and our patience is not eternal.” Wang, 29, pleaded guilty to one count of wire fraud and conspiracy to commit wire, securities, and commodities fraud.

Sam Bankman-Fried told former Alameda Research CEO Caroline Ellison to tweet inaccurate statements to "reassure investors," per an SEC complaint.

"On these occasions, Alameda adjusted the trading parameters of its trading bots in order to support the price of FTT." "The tweet was designed to provide false reassurance to customers by implying that Alameda had additional assets that meant its financial condition was stronger than the balance sheet suggested," per the complaint. The complaint reads: "In contrast to the positive message in her tweet, at that point, Ellison knew, or was reckless in not knowing, that Alameda was insolvent." Bankman-Fried has a 90% stake in Alameda, while Wang owns the other 10%. Bankman-Fried, meanwhile, was [released on $250 million bail on Thursday](https://www.businessinsider.com/sam-bankman-fried-bail-ftx-manhattan-court-appearance-hearing-2022-12?utm_medium=ingest&utm_source=markets) and will live with his parents in Palo Alto, California. - "Ellison, at Bankman-Fried's direction, caused Alameda to manipulate the price of FTT," the SEC complaint reads.

Also unsealed are the guilty pleas of CAROLINE ELLISON, former CEO of Alameda Research, and GARY WANG, co-founder and former Chief Technology Officer of FTX.

Attorneys Samuel Raymond and Thane Rehn also contributed to the investigation. Attorneys Nicolas Roos and Danielle Sassoon are in charge of the prosecution. The FBI will continue to seek justice for the victims of this case. Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. As I said last week, this investigation is very much ongoing, and it’s moving very quickly. ELLISON and WANG pled guilty before U.S.

The former FTX CEO will be under house arrest while he awaits trial for fraud—including allegations that he moved customer funds from the crypto exchange into ...

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The 28-year old pleaded guilty to defrauding investors in FTX and it now said to be fully cooperating with investigators on the case.

He did not respond to an emailed request for comment. Salame did not respond to a phone call or a LinkedIn message requesting comment. After working for a period at Alameda Research, Singh became FTX’s director of engineering in 2019, according to CNBC. According to the podcast, Ellison met Bankman-Fried for coffee about a year and a half into his role, where he first told her about Alameda Research. Bankman-Fried acknowledged that he and Ellison had “been together for a while” at a Twitter Spaces event on 1 December, but declined to elaborate. And even harded if it stops with a potential punishment for how it was being obtained spending the rest of that apparently sweet life behind bars.

Former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang are now cooperating with authorities as they untangle Sam Bankman-Fried's crypto empire.

- Special software code was written to facilitate the transfer of funds from FTX to Alameda. - When the crypto market started to decline, Alameda continued to use customer funds, in this case paying off debts to outside companies. - Bankman-Fried tried to hide that $8 billion liability in a customer account. - As the crypto downturn worsened this year, FTX’s leaders began to understand the extent of their issues. From the SEC complaint: "Bankman-Fried then used Alameda as his personal piggy bank to buy luxury condominiums, support political campaigns, and make private investments, among other uses. From the SEC complaint: "by directing FTX customers to deposit fiat currency (e.g., U.S. From the SEC complaint: “Bankman-Fried also used commingled funds from Alameda to make large political donations and to purchase tens of millions of dollars in Bahamian real estate for himself, his parents, and other FTX executives... - Those transfers were tracked in an account not connected to Alameda. - The collateral Alameda held for its loans was mostly FTT, a crypto token FTX made and gave to Alameda, which the hedge fund then tried to prop up. From the CFTC complaint: "At the time Bankman-Fried, Wang and others launched FTX, FTX did not establish the requisite bank accounts to accept and hold customer assets. - Millions of dollars sent to Alameda from FTX were loaned to Bankman-Fried. - Some Alameda accounts were not kept in Alameda’s name.

Plea deal with former Alameda CEO Caroline Ellison lists charges of wire fraud, securities fraud and money laundering.

In contrast to Bankman-Fried, who was released on a $250m bail and ordered to be confined to his parents’ Palo Alto house, Ellison’s bail was set at $250,000. Even as she gambled Alameda customer money – received through the unlimited line of credit and other loans between FTX and Alameda – she insisted in public that the two companies were separate, the complaint charges. The CFTC’s chairman, Rostin Behnam, said: “With today’s charges we continue to move aggressively to hold all individuals who commit fraud accountable and protect customers from additional harm and losses.

The former Alameda hedge fund CEO pleaded guilty to federal fraud charges in an agreement signed on Monday.

Since the FTX scandal imploded in November, Ellison has given up her jet-setting lifestyle hopping between the company’s ultra-luxe Bahamas penthouse and Hong Kong and has maintained a low profile. Provided she sticks to her promise to cooperate with the feds, she will be sentenced at a later date. She has only been spotted once, grabbing coffee in New York City on Dec. Even if I don’t relish what I’m being asked to do,’” said Jack Sharman, a white-collar criminal defense attorney for Lightfoot, Franklin and White. [SBF arrives at parents’ house under cover of night for confinement](https://nypost.com/2022/12/23/sam-bankman-fried-arrives-at-parents-home/) [Lawyers explain why SBF has ‘no easy path’ forward after ex-lover’s possible flip](https://nypost.com/2022/12/22/why-sam-bankman-fried-has-no-easy-path-after-caroline-ellisons-possible-flip/) [This is where Sam Bankman-Fried will be under house arrest after $250M bail](https://nypost.com/2022/12/22/where-sam-bankman-fried-will-be-under-house-arrest-after-250m-bail/) [agreed to “cooperate fully”](https://nypost.com/2022/12/21/bankman-frieds-ex-girlfriend-and-ftx-co-founder-plead-guilty-to-fraud-charges/) with the feds, in exchange for which they will likely get much lighter sentences.

Caroline Ellison, a close associate of FTX founder Sam Bankman-Fried, apologized in court this week as she pleaded guilty to fraud and other offenses, ...

[Walmart promo code - 10% off InHome delivery](https://www.wsj.com/coupons/walmart) [Kohl's Coupon 30% off sitewide](https://www.wsj.com/coupons/kohls) “I am truly sorry for what I did,” Ms.