CandleFocus Caroline Ellison Gets 2 Years in Prison for FTX, Alameda Crimes
2024-09-24
Author: Content Editor
Former Alameda Research CEO Caroline Ellison has been sentenced to two years in prison for defrauding investors of crypto exchange FTX and its sister firm. Judge Lewis Kaplan handed down the light sentence due to Ellison's cooperation as a witness against former FTX fraud ringleader Sam Bankman-Fried. Ellison, who pled guilty to multiple counts of fraud, struck a deal with prosecutors to serve as a government witness in exchange for a lighter sentence. Bankman-Fried received a 25-year sentence but has appealed the decision. Ellison's lawyers recommended no prison time, while the prosecution did not make any recommendations regarding prison time.
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