Bloomberg reports that Caroline Ellison, former Alameda Research CEO, was sentenced to 24 months in prison for her involvement in the multibillion-dollar FTX fraud. Ellison, 29, cooperated with prosecutors, testifying against FTX founder Sam Bankman-Fried, and admitted to falsifying documents to cover Alameda’s misuse of $10 billion in customer funds. Despite her substantial assistance, U.S. District Judge Lewis A. Kaplan stressed the need for prison time due to the magnitude of the fraud. Ellison will report to prison on November 7 and must forfeit $11 billion.
We’d Love to Hear Your Thoughts on This Article!
Was this writing helpful?
Source: https://coinpedia.org/crypto-live-news/caroline-ellison-sentenced-to-24-months-in-ftx-fraud-case/