Caroline Ellison told a judge that FTX executives secretly borrowed billions from Alameda Research, report says
with the Justice Department. The court unsealed the transcript of her plea hearing on December 22.
FTX cofounder Gary Wang also pleaded guilty. The plea deals that they both have struck with federal prosecutors in New York freed them each on bonds of $250,000. Ellison and Wang are now cooperating with prosecutors as part of their plea agreements. Wang said during his plea hearing on December 19 that he was directed to change FTX code to give Alameda special privileges on the trading platform.
Ellison has agreed to waive any defenses to the charges. Per her deal with prosecutors, she also agreed to pay restitution that is yet to be determined. She must also provide documents, records, and evidence to prosecutors, as well as testify to a grand jury or at court trials when requested.In November,
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