Caroline Ellison, former CEO of Alameda Research and star witness against Sam Bankman-Fried, was sentenced to two years in prison and ordered to forfeit $11 billion. Judge Lewis Kaplan praised Ellison's extensive cooperation but said a 'literal get-out-of-jail-free card I can't agree to'.
Caroline Ellison , the star witness in the prosecution of FTX founder Sam Bankman-Fried , was sentenced in New York federal court in Manhattan to two years in prison and ordered to forfeit $11 billion.
Caroline Ellison, former chief executive officer of Alameda Research LLC, at podium giving her sentencing statement in court in New York, US, on September 24, 2024."I've seen a lot of cooperators over the years and I've never seen one quite like Miss Ellison," said Kaplan, who also said he believed that Ellison was genuinely remorseful for her crimes and that her cooperation carried a steep price for her emotionally.
Ellison read from a statement in a shaky voice while crying at times as she apologized to the people she had hurt and said she was deeply ashamed. She also said she was sorry for not being brave enough to walk away from FTX and Bankman-Fried. Two other former FTX executives, Gary Wang and Nishad Singh, are scheduled to be sentenced later this year. Like Ellison, they pleaded guilty instead of standing trial.
Late Monday, Ellison's attorneys in a court filing said they had finalized financial settlements with prosecutors and the FTX debtor's estate.
FTX Caroline Ellison Sam Bankman-Fried Crypto Currency Fraud
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