Caroline Ellison Gets 2 Years in Prison for FTX, Alameda Crimes

Former Caroline Ellison, CEO of Alameda Analysis has been sentenced to 2 years in jail for defrauding traders of the crypto change FTX and its sister agency.

Decide Lewis Kaplan of the U.S. District Courtroom for the Southern District of New York handed down the sunshine sentence, citing Ellison’s sturdy cooperation as a witness towards former FTX fraud grasp Sam Bankman-Fried final fall.

“I’ve seen plenty of collaborators in 30 years,” says Kaplan Bloomberg. I’ve by no means seen anybody like Mrs. Ellison.”

Bankman-Fried was given a 25-year jail sentence final fall, though he has appealed the choice.

Ellison, 29, pleaded responsible in 2022 to 2 counts every of financial institution fraud and conspiracy to commit financial institution fraud, in addition to conspiracies to commit cash laundering, commodities fraud and securities fraud. However the former govt struck a cope with federal prosecutors in 2022 to function a authorities witness towards Bankman-Fried in hopes of getting a lighter sentence.

Ellison’s crimes carried a most jail sentence of 110 years.

The previous CEO’s legal professionals had beneficial that Ellison obtain three years of “supervised launch” with out jail time, in keeping with a courtroom doc. In the meantime, the prosecutor has not made any prison-related suggestions on Ellison’s sentencing.

Edited by Andrew Hayward