CandleFocus Will Caroline Ellison Go to Prison? What You Need to Know Ahead of Sentencing
2024-09-24
Author: Content Editor
Caroline Ellison, the former co-CEO of Alameda Research, is set to be sentenced for her role in the collapse of FTX, the sister exchange of Alameda. Under the direction of Sam Bankman-Fried, the founder and CEO of FTX, Ellison borrowed billions of dollars in customer funds to cover losses at Alameda. This led to the firms losing over $8 billion worth of FTX customers' deposits. Ellison pleaded guilty to multiple charges, including wire fraud and conspiracy, which could result in a maximum sentence of 110 years. However, she entered a plea deal with federal prosecutors, agreeing to serve as a government witness against Bankman-Fried. As a result, it is unlikely that Ellison will face significant prison time, and there is speculation that she may not go to prison at all. Some online betting pools also suggest a relatively light sentence for her crimes.
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