Caroline Ellison, former Alameda Research CEO and star witness in the Sam Bankman-Fried prosecution, was sentenced to two years and ordered to forfeit $11 billion for her role in FTX's collapse. Judge Lewis Kaplan delivered a harsher sentence than the no-prison recommendation from federal probation, citing the need to deter future fraudsters. Ellison had cooperated extensively with authorities, providing critical evidence, which contributed to Bankman-Fried's conviction. Ellison, who expressed remorse in court, remains free on bail until her surrender in November.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:03Caroline Ellison, former Alameda Research CEO and star witness in the Sam Bankman Freed
00:07prosecution, was sentenced to two years in prison in order to forfeit $11 billion for
00:12her role in FTX's collapse.
00:15Judge Louis Kaplan delivered a harsher sentence than the no-prison recommendation from federal
00:19probation, citing the need to deter future fraudsters.
00:23Ellison had cooperated extensively with authorities, providing critical evidence which contributed
00:27to Bankman Freed's conviction.
00:29Ellison, who expressed remorse in court, remains free on bail until her surrender in
00:33November.
00:34For all things money, visit Benzinga.com.