The post Fate of the Witness Caroline Ellison and Other Defendants in the SBF Case: Will They Serve Time in Jail? appeared first on Coinpedia Fintech News
Sam Bankman Fried Lawsuit, which was never-ending and took a shocking turn during every testimony, is again sparking attention when yesterday SBF pleaded guilty to all of his seven fraud charges.
Now the question raises: will key witnesses like Alameda Research CEO Caroline Ellison Alleges, girlfriend of SBF, Nishad Singh, and Gary Wang, despite delivering key testimony against their former boss, face jail time? Let’s Get to know!
Three Key Witnesses in SBF Testimony
Alameda Research CEO Caroline Ellison, Gary Wang FTX’s Chief Technical Officer and Nishad Singh who was Director of Engineer in FTX Firm pleaded guilty in December last year for their involvement in fraud case and now after the SBF convicted they hope their proof in his testimony will grant them less time in jail but in reality the trio is likely to face at least 50 years behind the bars.
Possible Prison for Co-Defendants!
The trio played an crucial role in this testimony, providing important proof against the founder, but the prosecutors in the case feel the amount of funds involved in the fraud scheme in which they all participated—nearly $10 billion—could see them still receive prolonged prison sentences.
After revealing shocking secrets, the co-defendants are now expecting the judge to charge them with more forgiving and less sentences.
Experts say that prison time in federal financial fraud cases is dependent on the amount of money stolen or misused, and in this case, the bid for sentences climbs higher the more money is involved, maxing out at $550 million. As such, there is no assurance that the co-defendants will evade prison time, even with their cooperation.
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