Nikolas Sargeant
Caroline Ellison, the former CEO of Alameda Research, has been sentenced to two years in prison for her involvement in the FTX cryptocurrency exchange fraud. The sentencing took place on September 24 at the United States Southern District of New York, where Judge Lewis Kaplan presided over the case.
Judge Praises Ellison's Cooperation, Emphasizes Gravity of Offense
Judge Kaplan described Ellison's cooperation with prosecutors as "remarkable" but stressed that such cooperation should not serve as a "get out of jail free card" given the seriousness of the case. Ellison, who had a personal relationship with FTX founder Sam Bankman-Fried, pleaded guilty to charges of wire fraud and money laundering as part of a plea deal.
Ellison's Testimony Crucial in Bankman-Fried Conviction
Ellison's testimony played a critical role in the conviction of Sam Bankman-Fried, who was recently sentenced to 25 years in prison for embezzling over $8 billion from FTX customers. In addition to her prison term, Ellison has been ordered to forfeit assets worth more than $11 billion, with the possibility of further restitution.
