Sam Bankman-Fried’s former associate and girlfriend had co-operated with prosecutors since pleading guilty
Caroline Ellison, the former boss of the trading firm through which FTX gambled billions of dollars in customer funds, has been sentenced to two years in prison, after aiding prosecutors in the criminal case against Sam Bankman-Fried, the collapsed cryptocurrency exchange’s founder. At a hearing in New York federal court on Tuesday, Judge Lewis Kaplan acknowledged that the 29-year-old was “genuinely remorseful” and that she was “exploited” by Bankman-Fried.
She walked the jury through spreadsheets, documents and private Signal chats that painted a picture of a years-long criminal conspiracy by the one-time crypto billionaire, revealing that Bankman-Fried had directed her and her ex-colleagues to steal roughly $10bn of customer deposits. She said Bankman-Fried had also directed her to create seven “alternative” balance sheets for Alameda, some of which disguised billions of dollars of kickbacks to FTX executives.
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Ex-FTX Executive Caroline Ellison Sentenced To Two Years In Prison For Role In Cryptocurrency FraudCaroline Ellison, former CEO of Alameda Research and ex-partner of FTX founder Sam Bankman-Fried, has been sentenced to two years in prison for her role in the cryptocurrency empire's collapse. Ellison, who turned on Bankman-Fried and testified against him, was praised by the judge for her cooperation but still received a prison sentence due to the severity of the fraud.
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