Ex-Sam Bankman Fried Caroline Ellison faced 110 years in prison before pleading guilty

Her plea agreement shows disgraced FTX crypto magnate Caroline Ellison, ex-girlfriend of Sam Bankman Fried, was facing up to 110 years in prison before she agreed to cooperate with the federal government.

The former Alameda hedge fund CEO, 28, pleaded guilty to federal fraud charges in an agreement signed Monday.

The document provided by the US Attorney for the Southern District of New York reads: “The maximum prison sentence on counts 1 to 7 of the information is 110 years in prison.”

The agreement also notes that Ellison and FTX co-founder Gary Wang agreed to “cooperate fully” with the feds, in exchange for much lighter penalties.

Cryptocurrency exchange FTX collapsed in November after federal investigators said Bankman-Fried used investor money to fund Alameda’s hedge fund and by the summer of this year Alameda owed FTX clients nearly $8 billion.

Carolyn Ellison pleaded guilty to federal fraud charges this week.


Carolyn Ellison pleaded guilty to federal fraud charges this week.

Ellison and FTX co-founder Gary Wang agreed to “fully cooperate” with the feds.


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For her part in the scheme, massive charges were brought against Ellison including wire fraud, commodity fraud, securities fraud and money laundering.

However, in exchange for Ellison’s decision to “truthfully and completely disclose all information relating to all matters” in the investigation, prosecutors agree to release the Stanford-educated mathematician on $250,000 bail. Provided she keeps her promise to cooperate with the feds, she will be judged at a later date.

The bail amount is 1,000 times less than that of her ex-lover, Bankman Fried, holed up in his parents’ Palo Alto home with an ankle monitor after being released on a record $250 million bail after being extradited from the Bahamas.

Photo of Sam Bankman Fried leaving Manhattan Federal Courthouse this week.
Sam Bankman Fried is under house arrest at his parents’ Palo Alto home.
Matthew McDermott

As part of her appeal, Ellison, a native of Massachusetts whose parents attend MIT, was also not allowed to travel outside the continental United States, and was forced to turn over her travel documents to law enforcement.


Catch up on The Post’s latest news on the Sam Bankman-Fried FTX scandal


The plea agreement shows Ellison is still on the line for monetary damages and she has also been sued separately by the federal government.

Earlier this week, legal experts told The Post why they feel Ellison will turn on Bankman-Fried.

Ellison was spotted grabbing coffee in New York City earlier this month.
Ellison was spotted grabbing coffee in New York City earlier this month.
Twitter / @AutismCapital

“People almost invariably say, ‘At the end of the day, I have to look out for my own interest or that of my family. Even if I don’t enjoy what I’m being asked to do, said Jack Sharman, a white-collar criminal defense attorney at Lightfoot, Franklin and White.

“[Ellison and Wang] It will likely undermine many [Bankman-Fried’s] defenses or arguments that they were responsible or were doing things without his knowledge,” added Michael Weinstein, former federal prosecutor and white-collar defense attorney at Coolshots.

Ellison's parents — pictured above outside their home in Newton, Massachusetts — are both professors at MIT.
Ellison’s parents — pictured above outside their home in Newton, Massachusetts — are both professors at MIT.
Robert Miller

Since the FTX scandal broke in November, Ellison has ditched her lifestyle of moving between the company’s lavish Bahamas penthouse and Hong Kong and has kept a low profile. She was spotted just once, having coffee in NYC on Dec. 4.

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