💥⚡💫 Alameda’s Caroline Ellison Gets 2 Year Prison Term for FTX Fraud Role

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Caroline Ellison, the former CEO of Alameda Research, has been sentenced to two years in prison, despite cooperating in the investigations surrounding Sam Bankman Fried (SBF) and the collapse of FTX.

Her role in the downfall of the crypto exchange and related activities led to the sentencing, even though she provided significant assistance in building the case against SBF.

Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison by a Manhattan court. Despite her cooperation in the case, Judge Lewis Kaplan highlighted the severity of the crimes involved.

Ellison had pleaded guilty to seven charges tied to the collapse of FTX in late 2022. She admitted to conspiring with Bankman Fried in the misappropriation of billions in customer deposits.

Despite the federal Probation Department’s recommendation for no prison time and the prosecutors’ push for leniency, Judge Kaplan determined that the scale of the fraud required a prison sentence. He acknowledged Ellison’s cooperation but highlighted that it did not excuse her from responsibility.