Caroline Ellison, the former crypto executive and romantic partner of the disgraced FTX founder Sam Bankman-Fried, was sentenced to 24 months in prison in Manhattan federal court on Tuesday. Ellison was a central figure in the FTX bankruptcy saga and key witness for the prosecution in the $8bn fraud trial that ended with Bankman-Fried’s conviction.

Ellison served as the CEO of Alameda Research, which was the trading arm of the now defunct FTX crypto exchange. The collapse of FTX, once valued at $32bn, was directly linked to revelations that it was attempting to financially prop up Alameda with fraudulent accounting. Subsequent investigations and criminal charges found that both FTX and the hedge fund had used billions in customer funds for risky trades and lavish personal spending.

    • @MutilationWave
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      52 months ago

      Seems a lot to me for someone who rolled on the boss and was essential to his conviction.

      • Todd Bonzalez
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        52 months ago

        It’s also a message to others. If you get caught committing large scale fraud, you can avoid life-ruining consequences if you throw all of your co-conspirators under the bus.

        Giving her a 25 year sentence like they did SBF sends the opposite message.