US Attorney’s Office to drop criminal prosecution of ex-CEO of Alameda Research on terms of full Cooperation

In this case, Caroline Ellison must pay a $250 000 bail, while she will be prohibited from leaving the continental part of the United States

22.12.2022 - 10:45

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Former Alameda Research CEO Caroline Ellison will not be allowed to leave the continental United States, and must to forfeit any proceeds derived from the commission of the offenses she has been charged with, according to a recently unsealed plea agreement with the U.S. Attorney's Office of the Southern District of New York.

The plea agreement was first obtained by New York's Inner City Press, a publication that covers court proceedings in the city's U.S. court.

The agreement states that if Ellison fully cooperates with the SDNY's investigation, as well as any other law enforcement agency designated by the office, she won't be further prosecuted criminally except for possible criminal tax violations with regard to the wire and commodity fraud charges that resulted from commingling funds between FTX and Alameda accounts.

A court would need to agree to the plea deal for it to be in effect.

A paragraph of the document has been redacted, removing information about some of the possible charges.

Ellison will be permitted bail, provided she can provide a $250,000 personal recognizance bond and restrict travel to the continental United States. She will also need to surrender any travel documents she has.

The plea deal also contains language that says if Ellison is not a U.S. citizen, it is very likely that her removal from the U.S. will be mandatory. It is assumed that Ellison is a U.S. national, but it is unclear if she might have abandoned her nationality for a citizenship of convenience for tax reasons which is a popular trend among some crypto traders living abroad, and the U.S. taxes non-residents.

UPDATE (Dec. 22 08:15 UTC): Adds that a court would need to agree to the plea deal.

This material is taken from the website coindesk.com.

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