Ellison testified as a star witness against her ex-boyfriend and FTX's founder, Sam Bankman-Fried.

Caroline Ellison has been sentenced to two years in jail for her role in the collapse of the cryptocurrency exchange FTX, which has been described as one of biggest financial frauds in US history.

Ellison was a top executive at the firm and is also the ex-girlfriend of its founder, Sam Bankman-Fried, who was sentenced to 25 years in prison for stealing $8bn (£6.3bn) from customers.

As part of a plea deal, Ellison admitted charges including wire fraud and money laundering, and testified against Bankman-Fried.

  • partial_accumen
    21•2 months ago

    Headline rewrite because I had to read it 5 times to understand it:

    Caroline Ellison, who then helped now convited convicted Sam Bankman-Fried in his FTX crypto fraud, is herself convicted and sentenced to two years for fraud

    edit: fixed spelling thanks @[email protected]

    • @[email protected]
      23•2 months ago

      but she also spilled beans on SBF, that’s why she’s got only 2 years and not 25 like SBF despite being equally deep in the fraud

        • @ansizEnglish
          7•2 months ago

          “She was also ordered to forfeit more than $11bn (£8.2bn) to the court.”

          That sounds like profit to me. It was the cooperation with the court that really did it.

        • @[email protected]
          4•2 months ago

          on top of these 11 billion dollars recovered, meaning that these were stolen, she also lived rent free in whatever bahamas mansion was bought with sbf’s money, with all their ranked competitive polycule roommates

          it’s 100% cooperation with the court that cut down sentence that hard

      • partial_accumen
        5•2 months ago

        Saw the spelling mistake, thanks! It is now even more clear that she wasn’t sentenced to fraud because she helped convict Sam Bankman-Fried, but because of her own actions in committing fraud at the same time.

    • @[email protected]
      4•2 months ago

      I think you may have misunderstood the headline.

      It’s not supposed to be “now convicted”. She helped the lawyers make a case against SBF. She helped in the process of convicting him. She helped convict him. It’s true that she did also help him do the naughty things but that’s not what this headline is saying.

      Your version of the headline does not convey this aspect.