Caroline Ellison, the former CEO of Alameda Research, was sentenced to two years in prison. Ellison will also have to forfeit $11 billion.
Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison.
Ellison, who pleaded guilty to charges related to his role in the collapse of cryptocurrency exchange FTX and testified against Sam Bankman Freed, must give up all of his profits from FTX. According to his Sept. 24 ruling, Ellison will have to give up $11 billion.
24 months in prison and forfeiture of all profits from FTX. Honestly, that's not the amount Caroline expected to get after the judge's impassioned comments. pic.twitter.com/hbrWtIUOIp
— James Seifert (@JSeyff) September 24, 2024
Despite the two-year sentence, Judge Lewis Kaplan praised Alameda's former CEO for his cooperation.
“I've seen a lot of collaborators in my 30 years, but I've never seen anyone like Mr. Ellison,” the judge noted.
Bloomberg also reported that while holding Ellison responsible, the court acknowledged that she was “vulnerable” and exploited.
“Mr. Ellison, you are a very strong person in some ways, but you are not inviolable,” Judge Kaplan said.
FTX founder and CEO Sam Bankman-Fried was sentenced to 25 years in prison earlier this year after being found guilty of all charges, including fraud. Prior to his incarceration, Bankman-Fried was also accused of leaking Ellison's diaries.
