Caroline Ellison Receives 2-Year Prison Sentence for FTX Collapse, Dubbed ‘Largest Financial Fraud in History’

Former FTX crypto executive, Caroline Ellison, was sentenced to two years in prison after being involved in a fraud scheme that stole billions. Ellison cooperated extensively with federal investigators and testified against Sam Bankman-Fried at trial, earning praise from the judge. FTX, a popular cryptocurrency exchange, collapsed in 2022 due to looting customer accounts, illegal activities, and investments. Ellison, who was the CEO at Alameda Research, expressed deep remorse for her actions. Despite pleas for leniency, the judge ruled that a prison sentence was necessary due to the seriousness of the crime. Bankman-Fried, found guilty and sentenced to 25 years, portrayed himself as inexperienced, but prosecutors described his testimony as evasive. Ellison’s cooperation was described as extraordinary by the judge, who noted her efforts to make amends and engage in charitable work. Since the trial, Ellison has focused on charity, writing a novel, and reconnecting with friends. The case highlights the complexities of white-collar crime and the importance of cooperation in investigations.

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