Former Alameda Research CEO Caroline Ellison received a 24-month prison sentence and must forfeit $11 billion for her involvement in the FTX collapse. Prosecutors recommended leniency due to Ellison's extensive cooperation, which led to the swift indictment of her ex-boyfriend and former FTX co-founder Sam Bankman-Fried.
Caroline Ellison , the former CEO of Alameda Research , was sentenced to 24 months in prison for her role in the FTX collapse. She must also forfeit $11 billion. Ellison pleaded guilty to two counts of wire fraud and five conspiracy counts in December 2022 as part of a cooperation agreement with the government. Prosecutors had recommended a lenient sentence because of Ellison’s “extraordinary” and “very timely” cooperation.
Ray, the new CEO charged with cleaning up the FTX mess, in locating and recovering customer assets, according to a statement written by Ray submitted by the defense. Her “early cooperation” was “valuable” in recovering debtors’ assets, he wrote. Ellison is working on a deal where she will turn over “substantially all of her remaining assets after satisfying her forfeiture obligations” to the FTX debtors. In sharp contrast to Bankman-Fried, Ellison appears to truly regret her role in the fraud.
FTX Alameda Research Caroline Ellison Sam Bankman-Fried Cryptocurrency
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