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- Caroline Ellison hasactually been sentenced to 24 months in jail for her function in the FTX collapse
- Ellison, a previous executive of Alameda Research, workedtogether thoroughly in the trial versus FTX creator Sam Bankman-Fried
- Her cooperation led to a more lax sentence, inspiteof dealingwith numerous charges, consistingof scams and cash laundering
Caroline Ellison, the previous head of Alameda Research, hasactually been sentenced to 24 months in jail for her participation in the FTX scams case. Despite dealingwith charges that might have resulted in a sentence of over 100 years, her cooperation with districtattorneys played a essential function in protecting a decreased charge. Ellison hadactually been a secret witness in the conviction of Sam Bankman-Fried, creator of the now-bankrupt crypto exchange FTX, which collapsed in 2022 in an $8 billion scams.
Exemplary Cooperation
Ellison, when a close confidante and romantic partner of Bankman-Fried, led Alameda Research, the trading company at the center of FTX’s collapse. FTX, when valued at $32 billion, imploded when it was exposed that consumer funds were being misused to cover dangerous trades made by Alameda. In court, Ellison confessed her function in the deceptive operations and revealed remorse, mentioning, “I desire to start by stating how sorry I am.”
Judge Lewis Kaplan, who likewise sentenced Bankman-Fried t