Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, was sentenced in U.S. District Court in Manhattan.
Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, was sentenced in U.S. District Court in Manhattan.
Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy., the star witness in the prosecution of her former boyfriend, FTX founder Sam Bankman-Fried, was sentenced Tuesday in New York federal court to two years in prison and ordered to forfeit $11 billion for her role in the massive fraud and conspiracy that doomed the cryptocurrency exchange once valued at $32 billion.
While Kaplan praised Ellison for her extensive cooperation with prosecutors — which led to the conviction of Bankman-Fried — the judge said her criminal sentence needed to deter other potential bad actors from committing fraud. Late Monday, Ellison's attorneys in a court filing said they had finalized financial settlements with prosecutors and the FTX debtor's estate.
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