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Caroline Ellison Sentenced To Two Years In Jail For Role In FTX Fraud, Must Forfeit $11 Billion
Caroline Ellison, the former CEO of Alameda Research, must serve 24 months in prison and forfeit $11 billion. "I've seen a lot of cooperators in 30 years. I've never seen one quite like Ms. Ellison," said Judge Lewis Kaplan during the sentencing hearing today. The Verge reports: Ellison pleaded gui...
Ellison was the key witness at the trial of FTX cofounder Sam Bankman-Fried, where she testified for three days. A statement submitted by the prosecution before Ellison's sentencing said the speed at which she came clean made it possible to indict her ex-boyfriend Bankman-Fried quickly, "ensuring that he did not flee the Bahamas or further obstruct the government's investigation." Ellison is working on a deal where she will turn over "substantially all of her remaining assets after satisfying her forfeiture obligations" to the FTX debtors.
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