FTX executive Caroline Ellison, sentenced to 2 years in prison as Sam Bankman-Fried’s former girlfriend

Caroline Ellison, who testified against her former boss and ex-boyfriend, cryptocurrency mogul Sam Bankman-Fried, was sentenced to two years in prison for fraud and conspiracy in a case related to the collapse of Bankman-Fried’s crypto exchange company, FTX. Ellison, 29, accepted a plea deal in December 2022 and testified against Bankman-Fried in his trial, leading to his conviction on multiple fraud charges and a 25-year prison sentence. Ellison’s lawyers had requested time served and supervised release due to her cooperation with authorities. However, Judge Lewis A. Kaplan determined that Ellison should serve a two-year sentence, stating that FTX’s collapse was possibly the greatest financial fraud in U.S. history. Despite expressing remorse and apologizing to those affected, Ellison was ordered to surrender after Nov. 7. Prosecutors alleged that Bankman-Fried looted billions from FTX customer funds, with Ellison and other witnesses providing crucial testimony. FTX was known for its popularity in the cryptocurrency world before its collapse in 2022, and Bankman-Fried and other top executives were accused of various illegal activities, including making illegal political donations and bribing Chinese officials. Other former FTX executives have also been sentenced, with more hearings scheduled. The case has been closely followed by the media, with reporters from various outlets covering the story.

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