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Caroline Ellison Shouldn't Go to Jail After FTX Collapse, Attorneys Say

Former Alameda Research CEO Caroline Ellison is seeking lenient sentencing, including time served and supervised release, for her role in the operation and collapse of cryptocurrency exchange FTX. In a filing late Tuesday night, her attorneys argued that she posed no risk of recidivism and presented no threat to public safety, citing her cooperation with prosecutors, FTX's bankruptcy estate, and creditors. They highlighted a presentence report that recommended no prison term or fine. Ellison had previously pleaded guilty to fraud linked to FTX's operation and testified against FTX founder Sam Bankman-Fried, who was convicted on fraud and conspiracy charges. The sentencing is scheduled for September 24, 2024.

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