Caroline Ellison sentenced to 24 months in prison for her role in FTX collapse
Caroline Ellison, former CEO of Alameda Research, was sentenced to two years in prison on September 24 for her involvement in the FTX collapse. Despite her request for no prison time due to her cooperation in securing Sam Bankman-Fried's conviction, the court ruled against her. Ellison's legal team argued for a sentence of time served, citing her assistance in asset recovery and her return from the Bahamas. John Ray, CEO of FTX, acknowledged her cooperation's importance. Ellison accepted a plea deal in December 2022, leading to her testimony during SBF's trial, which was pivotal in his conviction. FTX was once a leading cryptocurrency exchange before its downfall, with allegations against executives for misusing customer funds. Ellison's sentencing is part of ongoing legal actions against former FTX executives, including Ryan Salame, who received a seven-and-a-half-year sentence.
