“It is not unheard of for testifying cooperators, even ones facing as long a sentence as Ms. Ellison, to receive probation rather than any prison term,” Penza explained.
“Ms. Ellison was in the door as early as she could be and didn’t even need to be indicted. She is signaling at every opportunity that she is taking responsibility and is truly remorseful. If she ends up having to testify at trial against SBF or others that would make her cooperation even more significant and be a further argument for reducing her sentence,” Pensa added.
Ellison waives the right to defend herself against the charges. As part of the deal, she must cooperate fully with prosecutors, the FBI, and any other law-enforcement agencies. She will also be required to provide documents, records, and evidence to prosecutors. And she will have to testify to a grand jury and/or any other trials where she is requested.
Missing billions
On November 11, Bahamas-based FTX filed for Chapter 11 bankruptcy protection. And Bankman-Fried stepped down as CEO. The crypto company collapse resulted in billions in customer funds disappearing overnight.
