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Caroline Ellison could face no jail time for role in FTX collapse
Caroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. On Tuesday, she will face her own sentencing.
While District Judge Lewis Kaplan is under no obligation to accept the Probation Department's recommendation, O'Brien said that, along with some sort of fine, that would be "a fair sentence" because it reflects the "enormous value" of Ellison's cooperation. More than likely, Ellison's conviction will entail several years of supervised release and community service with a slew of attached activity restrictions, such as no trading in both crypto and noncrypto markets or foreign travel, said Yesha Yadav, law professor and associate dean at Vanderbilt University. Unlike Bankman-Fried who has faced public admonition and been portrayed by the government as a recidivist character, Ellison has been praised repeatedly by prosecutors and by new FTX CEO and bankruptcy administrator John Ray III.
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