Caroline Ellison sentenced to 24 months in jail over FTX fraud

• Caroline Ellison, former CEO of Alameda Analysis, has been sentenced to 2 years in jail.
• Ellison may even forfeit $11 billion

Caroline Ellison, the previous chief govt officer of Alameda Analysis, has been handed a 24-month jail sentence.

Ellison, who pleaded responsible to prices associated to her position within the collapse of crypto change FTX and testified towards Sam Bankman-Fried, will nonetheless need to forfeit all that she gained from FTX. Per the courtroom ruling on Sept. 24, Ellison will forfeit $11 billion.

24 months and forfeit all of her features from FTX. Truthfully greater than I assumed Caroline was gonna get after the glowing feedback from the Decide. pic.twitter.com/hbrWtIUOIp

— James Seyffart (@JSeyff) September 24, 2024

Regardless of the two-year sentence, Decide Lewis Kaplan praised the previous Alameda CEO for her co-operation.

“I’ve seen a number of cooperators in 30 years. I’ve by no means seen one fairly like Ms. Ellison,” the decide famous.

Bloomberg additionally experiences that the held Ellison to account for her culpability whereas on the similar time acknowledging that she was “weak” and had been exploited.

“You’re a really sturdy individual, Ms. Ellison, in some methods, however not inviolable,” Decide Kaplan stated.

FTX founder and CEO Sam Bankman-Fried was sentenced to 25 years in jail earlier this 12 months. SBF was discovered responsible on all counts, together with fraud. Earlier than his imprisonment, Bankman-Fried has additionally been accused of leaking Ellison’s diary.