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Will Sam Bankman-Fried be convicted for his role in the FTX collapse by December 31, 2024?
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Caroline Ellison Sentenced to Two Years in Prison, Must Forfeit $11 Billion for Role in FTX Collapse
Sep 24, 2024, 08:14 PM
Caroline Ellison, former CEO of Alameda Research, has been sentenced to two years in prison for her role in the collapse of FTX. In addition to the prison sentence, she has been ordered to forfeit $11 billion. The federal judge noted Ellison's extensive cooperation with authorities, but emphasized the severity of her actions in the multi-billion dollar FTX crypto fraud. Ellison will also serve three years of supervised release following her imprisonment. The judge approved her serving the sentence in a minimum-security facility. Judge Kaplan cited a reluctance to reward her cooperation with the government. Ellison's testimony revealed that Sam Bankman-Fried directed her to commit the fraudulent activities.
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