Carolyn Ellison sentenced to 24 months in prison for FTX fraud.
Former Alameda Research CEO Carolyn Ellison was sentenced to two years in prison. Ellison will also lose $11 billion.
Former Alameda Research CEO Caroline Ellison was sentenced to 24 months in prison.
Ellison, who pleaded guilty to charges related to her role in the collapse of crypto exchange FTX and testified against Sam Bankman-Fried, is set to forfeit everything she earned from FTX. According to the September 24 court ruling, Ellison will lose $11 billion.
24 months and she lost all her profits from FTX. Actually more than I thought Caroline would get after the glowing comments from the judge. pic.twitter.com/hbrWtIUOIp
— James Seyff (@JSeyff) September 24, 2024
Although she was sentenced to two years in prison, Judge Lewis Kaplan praised the former Alameda CEO for her cooperation.
“I've seen a lot of collaborators in 30 years. “I have never seen anyone like Ms. Ellison,” the judge said.
Bloomberg, meanwhile, blamed Ellison for her guilt, while also admitting that she was “vulnerable” and exploited.
“You are a very strong person, Ms. Ellison, in some ways, but not inviolable,” Judge Kaplan said.
FTX founder and CEO Sam Bankman-Fried was sentenced to 25 years in prison earlier this year. SBF was found guilty of all charges including fraud. Before his arrest, Banman-Fried was accused of leaking Ellison's diary.
