Caroline Ellison sentenced to 2 years for fraud in Alameda/FTX $8B fund misuse.
Ellison’s actions, influenced by Bankman-Fried, helps her reduce her sentence.
Judge imposed a 2-year sentence, rejecting probation, plus $11B fine for financial fraud.
Caroline Ellison, the former CEO of Alameda Research, received a two-year prison sentence for her part in the collapse of the FTX cryptocurrency exchange. Ellison’s sentencing, which took place in a New York federal court, follows her guilty plea to fraud and conspiracy charges related to the FTX fraud that cost customers billions in lost funds.
Ellison, who headed Alameda Research, participated in the misappropriation of customer funds. Alameda received approximately $8 billion taken from FTX accounts under the direction of Sam Bankman-Fried. These funds were then used for Alameda’s trading operations and other purposes, resulting in huge losses for customers and investors.
Read also: Justice Served? Caroline Ellison’s Role in the FTX Scandal and Her Sentence
Ellison’s Actions Influenced by Bankman-Fried
Assistant U.S. Attorney Danielle Sassoon argued that while Ellison was responsible, her actions stem…
The post FTX Fraud: Caroline Ellison Sentenced to 2 Years in Prison appeared first on Coin Edition.