3 sources·Business

Caroline Ellison Begins Two-Year Prison Term for Role in FTX Fraud

Former FTX executive Caroline Ellison starts her two-year prison sentence after pleading guilty to financial fraud in the cryptocurrency scandal.

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Updated: Nov 7th, 2024, 4:32 PM ET

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Caroline Ellison, ex-CEO of Alameda Research, has begun her two-year prison sentence for her involvement in the FTX fraud scandal. She was sentenced for her critical cooperation with prosecutors, having testified against former boyfriend and FTX founder Sam Bankman-Fried, who received a 25-year sentence. Ellison expressed deep remorse during her sentencing, highlighting the impact of the fraud that cost billions to investors and customers alike. The case is marked as one of the largest financial frauds in U.S. history, with significant repercussions in the cryptocurrency industry.

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Caroline Ellison Begins Two-Year Prison Term for Role in FTX Fraud - Pano News