Summary of Caroline Ellison, former FTX executive, sentenced to 24 months in prison
Summary of Caroline Ellison, former FTX executive, sentenced to 24 months in prison
Caroline Ellison, a former executive at Sam Bankman-Fried's FTX exchange, was sentenced to 24 months for her role in a multibillion-dollar fraud. She blamed Bankman-Fried for justifying illegal conduct and altering balance sheets. Ellison disclosed hiding borrowed funds during a market downturn, leading to FTX's collapse. Ellison's lawyers cited her testimony and turbulent relationship with Bankman-Fried in seeking leniency. Judge Kaplan acknowledged her cooperation in the trial. Bankman-Fried, already serving a 25-year sentence, was implicated in one of the largest financial frauds in U.S. history.
quoting nevent1q…xkzmCaroline Ellison, former FTX executive, sentenced to 24 months in prison
Ellison, a former top executive for Sam Bankman-Friend's crypto hedge fund, was sentenced Tuesday for fraud.
https://www.cbsnews.com/news/caroline-ellison-ftx-executive-alameda-sam-bankman-fried-sentence-prison/
Caroline Ellison, a former executive at Sam Bankman-Fried's FTX exchange, was sentenced to 24 months for her role in a multibillion-dollar fraud. She blamed Bankman-Fried for justifying illegal conduct and altering balance sheets. Ellison disclosed hiding borrowed funds during a market downturn, leading to FTX's collapse. Ellison's lawyers cited her testimony and turbulent relationship with Bankman-Fried in seeking leniency. Judge Kaplan acknowledged her cooperation in the trial. Bankman-Fried, already serving a 25-year sentence, was implicated in one of the largest financial frauds in U.S. history.