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Caroline Ellison gets 2 years for covering up Sam Bankman-Fried’s FTX fraud
Caroline Ellison "deeply regrets" FTX lies, must now forfeit $11 billion.
Enlarge/ Caroline Ellison, former chief executive officer of Alameda Research LLC, was sentenced Tuesday for helping Sam Bankman-Fried cover up FTX's fraudulent misuse of customer funds. Ellison could have faced a maximum sentence of 110 years, for misleading customers and investors as the former CEO of the cryptocurrency trading firm linked to the FTX exchange, Alameda Research. "Parsing Alameda Research’s poor internal records was complicated by vague titles and unlabeled calculations on any documents reflecting misuse of customer funds," Ellison's sentencing memo said.
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