Nitasha TikuDec 22, 2022

Caroline Ellison, CEO of Alameda Research just pleaded guilty 7 counts for defrauding FTX customers. I was just looking up who her lawyer was and realized I missed this. She hired Stephanie Avakian who was at the SEC from 2016 to 2022 led a team that worked on the cases against:

-Elizabeth Holmes/Theranos
-Elon Musk for tweeting misleading statements about taking Tesla private
-Facebook for misleading investors about misusing user data
-cases against Ripple + Robinhood

https://www.businessinsider.com/caroline-ellison-hires-former-top-sec-crypto-regulator-lawyer-ftx-2022-12

Caroline Ellison hires former top SEC crypto regulator as lawyer in FTX investigation

Stephanie Avakian, the SEC's former enforcement director, led major regulatory cases against companies like Robinhood, Tesla, and Theranos.

Insider
Show threadSkippy
@nitashatiku I don't understand why they accepted a plea deal from her when you have to think they've 1) got the goods on her big time and 2) have SBF all but confessing on a daily basis in interviews and such. Is it really worthwhile to get a deal in the can when you've got everyone dead to rights or am I overestimating how strong their case is?
Dec 22, 2022 at 4:58pmWeb
Show threadNitasha TikuDec 22, 2022
@jwheat1968 I couldn't say whether there was a strategy behind SBF's apology tour, but he did not "confess" to much. In the interviews I read/heard, he framed misuse of customer funds as: recent, or a mistake, or a function of him not paying attention. He also said he was removed from Alameda Research. You can download the most recent complaint here with Caroline Ellison and Gary Wang acknowledging liability and it paints a VERY different story about what happened. https://www.cftc.gov/PressRoom/PressReleases/8644-22
CFTC Charges Alameda CEO and Alameda and FTX Co-Founder with Fraud in Action Against Sam Bankman-Fried and his Companies | CFTC