Caroline Ellison, former CEO of Alameda Research and key witness in the FTX fraud case, is seeking no prison time for her involvement in the theft of $8 billion from FTX customers. Her attorneys argue for leniency, citing her extensive cooperation with prosecutors, which helped build a case against her ex-boyfriend, Sam Bankman-Fried, who was sentenced to 25 years in prison. Ellison's legal team has recommended a sentence of time served with three years of supervised release, highlighting her acceptance of wrongdoing and her credibility as a witness. They submitted letters from friends and colleagues vouching for her character and remorse. Ellison pleaded guilty to fraud and conspiracy charges in December 2022, and her sentencing is set for September 24, 2024. She testified that Bankman-Fried directed her to misuse customer funds to cover losses at Alameda Research, providing critical insights into his operations during the trial.