Gary

Former Alameda Research CEO Caroline Ellison was sentenced on Sept. 24 to two years in a minimum-security prison for her role in FTX’s collapse.
The sentence was handed down by Judge Lewis Kaplan of the District Court of Southern New York, who determined that Ellison must also forfeit the roughly $11 billion she earned from FTX.
Kaplan said Ellison’s surrender date will be set on or after Nov. 7.
<h2 id="strong-a-light-sentence-strong">A light sentence</h2>
Ellison could have faced 110 years in prison for her crimes, but Lewis expressed considerable sympathy for her. According to Bloomberg, the judge <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/live-blog/2024-09-24/caroline-ellison-sentencing" rel="null" target="null" text="null" title="null">told</a> her:
“You’re a very strong person, Ms. Ellison, in some ways, but not inviolable. Mr. Bankman-Fried had your Kryptonite. […] You were vulnerable and you were exploited.”
Ellison clasped her hands in front as the sentence was read and family members in attendance at the trial cried.
Related:<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/alameda-ex-ceo-caroline-ellison-spotted-in-new-york-twitter-users-claim" rel="null" target="null" text="null" title="null"> Alameda ex-CEO Caroline Ellison spotted in New York, Twitter users claim</a>
The reclusive Ellison <a data-ct-non-breakable="null" href="https://www.theverge.com/2024/9/24/24249490/caroline-ellison-sentence-ftx-alameda-fraud" rel="null" target="null" text="null" title="null">complained</a> that she was subject to harassment from the crypto community in the media and in real life, which has made her afraid to go out in public.
She cooperated extensively with the prosecution in the case against Sam Bankman-Fried, her former colleague and purported boyfriend, so much so that the<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/alameda-research-ftx-caroline-ellison-cooperation-sentencing" rel="null" target="null" text="null" title="null">prosecution recommended leniency</a> for her. 
<figure>
 <img alt="Caroline Ellison sentenced to 2 years in prison" name="" src="https://s3.cointelegraph.com/uploads/2024-09/019225c7-cf2d-7da8-9066-989ce2020fa9">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/AutismCapital/status/1838667909033529817" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/AutismCapital/status/1838667909033529817">Autism Capital</a>
 </figcaption>
</figure>
Ellison’s lawyers had asked the court to limit her prison sentence to time served, but Kaplan said at the sentencing that there would be no “get out of jail free” card.
<h3 id="strong-more-of-the-ftx-cohort-is-still-to-be-sentenced-strong">More of the FTX cohort is still to be sentenced</h3>
The sentence points to the likelihood that co-defendants and former FTX executives Gary Wang and Nishad Singh will also serve jail time. Singh will be sentenced on Oct. 30 and Wang on Nov. 20. Like Ellison, they have also pleaded guilty to the charges against them.
Former FTX executive Ryan Salame <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ftx-exec-ryan-salame-sentenced-guilty-plea" rel="null" target="null" text="null" title="null">was sentenced to seven</a> and a half years in prison in May. FTX founder Sam Bankman-Fried was <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sam-bankman-fried-sentenced-years-prison-hold" rel="null" target="null" text="null" title="null">sentenced to 25 years</a> in March.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/brian-jung-crypto-youtube-ftx-base-aerodrome-hall-of-flame/" rel="null" target="null" text="null" title="null">YouTuber declines ‘7 figure’ sponsorships after FTX scandal: Brian Jung, Hall of Flame</a>

Caroline Ellison sentenced to 2 years in prison

Table of Contents

Cointelegraph

Other articles published on Sep 24, 2024

Coinbase Versus SEC: Top Exchange Onboards Top Litigator Ryan VanGrack

AI tools you didn’t know could simplify your daily tasks

eToro Limits U.S. Crypto Offerings to BTC, ETH, and BCH After $1.5M SEC Settlement

30 Million XRP Vanishes, Stunning Korean Major Exchange

ZKsync Integrates Chainlink CCIP to Power Cross-Chain Token Transfers

BREAKING: FTX CEO Sam Bankman-Fried’s Collaborator Caroline Ellison Receives Sentence

Join our free newsletter for daily crypto updates!