Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison for her role in the FTX collapse. Judge Lewis A. Kaplan acknowledged Ellison's cooperation with the government and remorse but stated that a 'get out of jail free card' was not an option given the severity of the financial fraud.
NEW YORK — Former Alameda Research CEO Caroline Ellison was sentenced to 24 months – or two years – in prison by a federal judge on Tuesday.
Kaplan noted Ellison’s cooperation, saying"I’ve seen a lot of cooperators in 30 years here, I’ve never seen one quite like Miss Ellison." Her testimony was a"cornerstone" in Bankman-Fried's conviction, prosecutors said in a sentencing memorandum ahead of Tuesday's hearing. Bankman-Fried was convicted on all seven counts of fraud and conspiracy he faced, and was sentenced to 25 years in prison earlier this year. He's now appealing the conviction. Assistant U.S.
Ellison’s lawyer, Wilmare Hale Managing Partner Anjan Sahni, told the court that his client had been led astray by Bankman-Fried, who she formerly had a romantic relationship with. In her desire to please Bankman-Fried, Ellison participated in the fraud scheme but after FTX’s collapse, her lawyer said,"she has recovered her moral compass."
FTX Alameda Research Caroline Ellison Sam Bankman-Fried Fraud Prison Sentence
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