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On Tuesday, September 24, 2024, former Alameda Research CEO Caroline Ellison was sentenced to 24 months in prison after admitting to several crimes.
During the trial, where cameras, videos, and phone recordings were prohibited, the judge made a notable comment to Ellison: “In my 30-year career, I’ve seen many cooperators, but I’ve never seen anyone quite like Ms. Ellison.” Despite this remark, she received only a two-year prison sentence. According to Bloomberg reporters, Ellison was also ordered to return the profits she gained from her involvement in the FTX scandal.
Back in December 2022, Ellison cooperated with U.S. federal authorities, which played a key role in the charges brought against FTX founder Sam Bankman-Fried. At the time, she confessed to a series of crimes, including conspiracy to commit wire fraud, wire fraud against lenders, conspiracy to commit commodities fraud, securities fraud, and money laundering.
During the court proceedings, Ellison admitted she was fully aware that FTX had been using customer funds to cover Alameda’s debts. While her testimony was crucial in building the case against Bankman-Fried, Ellison still faced a prison sentence despite her cooperation.
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