NEW YORK — Caroline Ellison, a previous leading executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, was sentenced to 2 years in jail on Tuesday after she askedforgiveness to everybody hurt by a scams that took billions of dollars from financiers, lendinginstitutions and clients.
Ellison, 29, might haveactually dealtwith a much harder sentence, however both the judge and districtattorneys stated she shouldhave credit for talking thoroughly with federal privateinvestigators, pleading guilty and eventually affirming versus Bankman-Fried for 3 days at his trial last November.
U.S. District Judge Lewis A. Kaplan stated Ellison’s cooperation was “very, extremely considerable” and “remarkable.”
But he stated a jail sentence was essential duetothefactthat she had gotinvolved in what may be the “greatest monetary scams ever committed in this nation and mostlikely anywhere else” or at least close to it.
Ellison was purchased to report to jail Nov. 7.
FTX was one of the world’s most popular cryptocurrency exchanges, recognized for its Superbowl TELEVISION advertisement and its substantial lobbying project in Washington, before it collapsed in 2022.
U.S. districtattorneys implicated Bankman-Fried and other leading executives of robbery client accounts on the exchange to make dangerous financialinvestments, make millions of dollars of unlawful political contributions, kickback Chinese authorities and buy high-end genuine estate in the Caribbean.
Ellison was chief executive at Alameda Research, a cryptocurrency hedge fund regulated by Bankman-Fried.
“I’m deeply embarrassed with what I’ve done,” she stated at the sentencing hearing, battling throug