Ellison, a former top executive for Sam Bankman-Friend's crypto hedge fund, was sentenced Tuesday for fraud.
Caroline Ellison, a former top executive at Sam Bankman-Fried 's FTX cryptocurrency exchange, was sentenced Tuesday to 24 months for her role in a multibillion-dollar fraud involving the bankrupt company.Ellison, 29, pleaded guilty nearly two years ago and testified against Bankman-Fried for nearly three days at his trial on multiple fraud charges last November.
Prior to FTX's collapse, Bankman-Fried had became a billionaire through cryptocurrencies, earning a Fortune magazine cover that asked if he was the next Warren Buffett. But after FTX collapsed into bankruptcy, a jury concluded that some of FTX investors' money had been improperly spent on real estate, investments, celebrity endorsements, political contributions and lavish lifestyles.
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