A US district court judge sentenced Caroline Ellison, the former advisor and ex-girlfriend to the convicted crypto fraudster and FTX founder Sam Bankman-Fried, to two years in prison.
The New York Times reported Ellison’s sentence for her role in the $8 billion in fraud committed by the FTX crypto exchange that sent Bankman-Fried to federal prison for 25 years back in March. Ellison will also have to serve three years of supervised release once she’s finished her prison sentence.
Ellison pled guilty at the end of 2022 to seven counts of fraud just as Bankman-Fried was being extradited to the US from the Bahamas. US Securities and Exchange Commission (SEC) Director of Enforcement Sanjay Wadhwa said following Ellison’s plea that she and Wang “were active participants in a scheme to conceal material information from FTX investors.”
Ellison was also the former chief executive officer of FTX’s sister company Alameda Research. Prosecutors said she diverted FTX customers’ fu
