Caroline Ellison, ex-girlfriend of FTX founder, sentenced to 24 months for fraud and ordered to forfeit $11 billion
By
Barnini Chakraborty
September 24, 2024 4:16 pm
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Caroline Ellison, the star witness in FTX founder Sam Bankman-Fried’s fraud trial, was sentenced to 24 months in prison for her role in the collapse of the crypto exchange and its affiliated hedge fund Alameda Research.
Ellison, who admitted to participating in the fraud, cut a deal with federal prosecutors and provided testimony that put her former billionaire boyfriend and boss in prison for 25 years. She will also have to forfeit $11 billion.
Caroline Ellison, former CEO of Alameda Research founded by Sam Bankman-Fried, enters the wrong car as she exits the Manhattan federal court after testifying on Tuesday, Oct. 10, 2023, in New York. (AP Photo/Eduardo Munoz Alvarez)
“I’m sorry I wasn’t brave,” she told Judge Lewis Kaplan, crying. “Lying isn’t something that comes naturally to me.”
Ellison said since the collapse of FTX, it’s “been a relief to be completely honest and open with prosecutors and investigators.”
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https://www.washingtonexaminer.com/news/crime/3164887/caroline-ellison-ftx-sentenced-fraud/
