Caroline Ellison Sentenced to 24 Months, Forfeits $11 Billion in FTX Fraud

Sep 24, 2024, 08:14 PM

Caroline Ellison, former CEO of Alameda Research and a key figure in the FTX cryptocurrency exchange collapse, has been sentenced to 24 months in prison. Ellison, who played a significant role in the multi-billion dollar fraud orchestrated by Sam Bankman-Fried, was also ordered to forfeit $11 billion. Despite her cooperation with authorities, the judge emphasized the severity of her actions, stating, 'I've seen a lot of cooperators in 30 years. I've never seen one quite like Ms. Ellison.' Ellison's sentence includes three years of supervised release after her imprisonment, and she will serve her time in a minimum-security facility.