Key Takeaways:
- Caroline Ellison, former Alameda Research CEO, sentenced to two years in prison and ordered to forfeit $11 billion for her role in the FTX fraud.
- Ellison’s testimony was pivotal in convicting FTX founder Sam Bankman-Fried, who was sentenced to 25 years.
- Despite Ellison’s cooperation, Judge Kaplan underscored the gravity of the fraud, ruling that prison time was necessary.
Caroline Ellison, former CEO of Alameda Research, was sentenced to two years in prison and ordered to forfeit $11 billion for her role in the FTX fraud.
Ellison’s cooperation was crucial in the conviction of Sam Bankman-Fried, FTX’s founder and her former boyfriend, who received a 25-year sentence.
🚨NEW: CAROLINE ELLISON SENTENCED TO 24 MONTHS IN A MINIMUM SECURITY PRISON. SHE ALSO HAS TO FORFEIT $11B IN ASSETS. THE SURRENDER DATE SHOULD BE ON OR AFTER NOVEMBER 7TH, 2024
— Autism Capital 🧩 (@AutismCapital) September 24, 2024
“THERE CANNOT BE A GET OUT OF JAIL FREE CARD.” – JUDGE KAPLAN ‼️ pic.twitter.com/GBTSAhQxBS
Ellison testified that Bankman-Fried misled lenders and engaged in bribery, helping secure his conviction.
Despite Ellison’s significant assistance, Judge Lewis Kaplan emphasized the seriousness of the fraud, stating that avoiding prison was not an option.
The judge acknowledged Ellison’s remorse, and Assistant U.S. Attorney Danielle Sassoon highlighted her cooperation.
Ellison expressed deep regret for the harm caused to FTX and Alameda’s customers.
She now has 45 days to surrender to begin her sentence.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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