FTX founder Sam Bankman-Fried’s former exec is requesting no prison time

Caroline Ellison’s lawyers cited her extensive cooperation with authorities when FTX collapsed in 2022.

Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried ‘s collapsed cryptocurrency empire and his former girlfriend, is seeking no prison time at her sentencing later this month.

Lawyers for Ellison made the request shortly before midnight Tuesday in a filing in Manhattan federal court in advance of a sentencing scheduled for September 24.

The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX and related companies collapsed in November 2022, and they noted that the court’s Probation Department recommended that she serve no prison time.

Ellison, 29, pleaded guilty nearly two years ago in the prosecution and testified against Bankman-Fried for nearly three days at his trial last November. After his conviction, Bankman-Fried was sentenced to 25 years in prison. Without her cooperation, Ellison could have faced decades in prison.

“Caroline blames no one but herself for what she did,” the lawyers wrote. “She regrets her role deeply and will carry shame and remorse to her grave.”

In the presentence arguments, the lawyers spoke extensively about Ellison’s on-and-off romantic relationship with Bankman-Fried that stretched over several years.

They said the relationship and her appointment to a role as chief executive at Alameda Research, FTX’s hedge fund affiliate, contributed to her committing crimes at Bankman-Fried’s direction.