Caroline Ellison, the former CEO of Alameda, has been granted bail by the United States Department of Justice after pleading guilty to criminal charges related to the collapse of FTX. Ellison is facing a total of seven charges, including wire fraud, conspiracy to commit commodities fraud, and securities fraud.
According to a document published by the Office of the States Attorney on December 21, Ellison has agreed to a plea deal and will only be prosecuted for criminal tax violations. She has also been granted bail of $250,000, but is not permitted to leave the United States.
The Securities and Exchange Commission (SEC) has also published a document outlining the charges against Ellison. The SEC alleges that Ellison, at the direction of former FTX CEO Sam Bankman-Fried, made large purchases of $FTT, the company’s issued token, in an effort to manipulate the price.
This caused a misstatement of Alameda’s balance sheet and inflated its value. $FTT was also used as collateral for undisclosed loans by the company. Gary Wang, a co-founder of FTX, was also involved in this scheme.
Sam Bankman-Fried has been arrested and extradited to the United States for trial. The collapse of FTX remains one of the major events in the cryptocurrency world this year.
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