Caroline Ellison, a former top executive at Sam Bankman Fried's FTX cryptocurrency empire, was sentenced Thursday to two years in prison for her role in a fraud that cost investors, lenders and customers billions of dollars. It was announced.
Ellison, 30, reported to a federal prison in Danbury, Connecticut, according to the Federal Bureau of Prisons. She had pleaded guilty and testified extensively against her ex-boyfriend, Bankman Freed, before being convicted and sentenced to 25 years in prison.
Although Ellison himself could have spent decades in prison, the judge and prosecutors said he was commended for his cooperation.
At her sentencing hearing in New York in September, she tearfully apologized and said she was “very embarrassed.”
Ellison was the chief executive of Alameda Research, a cryptocurrency hedge fund managed by Bankman Freed.
FTX, one of the world's most popular crypto exchanges known for its Super Bowl TV ads and massive lobbying efforts in Washington, collapsed in 2022.
U.S. prosecutors say Bankman Fried and other executives used exchanges to make risky investments, make millions of dollars in illegal political contributions, bribe Chinese officials and buy luxury real estate in the Caribbean. accused of plundering customer accounts.
