Caroline Ellison will return to New York to be sentenced for her involvement in the misuse of user funds at FTX and Alameda Research. Ellison was the CEO of Alameda before November 2022, when the firm and crypto exchange FTX collapsed.

Fried’s former girlfriend and a top executive in his empire, is set to be sentenced on Sept. 24 for her role in the collapse of the crypto exchange.

In a court filing Tuesday night, the attorneys said that, at most, Ellison should be sentenced to time served and supervised release.

Caroline Ellison, former CEO of Alameda Research and a key witness in the FTX trial, might not face jail time. Her lawyers are pushing for a sentence of no prison time in connection with the collapse of the crypto giant FTX.

Caroline Ellison, the former CEO of Alameda Research, faces potential prison time but could receive a lenient sentence after a recommendation from US prosecutors.

Caroline Ellison seeks leniency, citing cooperation in FTX's collapse investigation as FTX mulls using stablecoins for creditor repayment.

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

In a note to the judge, prosecutors noted her cooperation was “not only substantial, but exemplary”. Read more at straitstimes.com.

Caroline Ellison was praised by prosecutors for her “exemplary” cooperation in the FTX fraud investigation, even though it made her the target of relentless harassment and public scrutiny.

U.S. prosecutors made a case for leniency for former FTX cryptocurrency executive Caroline Ellison when she is sentenced over her role in the exchange's collapse, citing her help in sending FTX founder Sam Bankman-Fried to prison for 25 years.