September 25, 2024

Caroline Ellison sentenced to two years in jail for role in FTX fraud

Claudio Ctin1 mins
Caroline Ellison sentenced to two years in jail for role in FTX fraud

The end of the line. | Photo Illustration by Cath Virginia / The Verge | Photo by Bloomberg, Getty Images

Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison for her role in the FTX collapse. She must also forfeit $11 billion.

Ellison pleaded guilty to two counts of wire fraud and five conspiracy counts in December 2022 as part of a cooperation agreement with the government. Prosecutors had recommended a lenient sentence because of Ellison’s “extraordinary” and “very timely” cooperation. Her own lawyers asked for no jail time, as did the federal Probation Department.

“I’ve seen a lot of cooperators in 30 years. I’ve never seen one quite like Ms. Ellison,” said Judge Lewis Kaplan during the sentencing hearing, according to Bloomberg. In sharp contrast to Sam Bankman-Fried, there were no obvious…

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