The former chief executive of Alameda Research, the trading company that acted as the vehicle for the multibillion-dollar fraud at crypto exchange FTX, has been given a two-year prison sentence after cooperating with investigators.
A US federal judge in the Southern District of New York has sentenced Caroline Ellison, a member of the ring of executives who presided over the fraud that led to the collapse of crypto exchange FTX, to two years in prison. In addition, she has been ordered to forfeit $11 billion. Ellison entered the courtroom Tuesday accompanied by her family, somber and quiet. The hour-long hearing was the culmination of a protracted downfall for the math whiz turned crypto executive.
The potency of Ellison’s testimony against Bankman-Fried will also have gone a long way to convincing the judge to show leniency, says Paul Tuchmann, a former US prosecutor and partner at the law firm Wiggin and Dana. Testifying at Bankman-Fried’s criminal trial in October 2023, Ellison depicted her former paramour as the driving force behind the FTX fraud.
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Former FTX Executive Caroline Ellison's Sentencing Hearing Set for Sept. 24Nikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
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Caroline Ellison Shouldn't Go to Jail After FTX Collapse, Attorneys SayNikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
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Caroline Ellison's Attorneys Seek Leniency in FTX Case, Highlighting Cooperation With ProsecutorsDefense attorneys for Caroline Ellison, former Alameda Research CEO, urged Judge Lewis Kaplan to show leniency during her sentencing Tuesday. They emphasized Ellison's 'unflinching' acknowledgment of wrongdoing and 'extraordinary cooperation' with prosecutors against her ex-boyfriend and FTX founder Sam Bankman-Fried.
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FTX Witness Caroline Ellison Doesn't Deserve Prison Time, Defense ArguedCaroline Ellison, a key witness in the FTX trial, is being recommended for leniency by her defense attorneys who argued she deserves no prison time for her role in the crypto exchange's collapse. They highlighted Ellison's cooperation with prosecutors and her remorse for her actions.
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