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Caroline Ellison, who once led Alameda Research, will soon begin her two-year prison sentence after pleading guilty to fraud linked to the collapse of FTX, the cryptocurrency exchange she helped run. Her sentence comes after she testified against former FTX CEO Sam Bankman-Fried in his recent high-profile trial.
When and Where She’ll Serve Her Sentence
Ellison is expected to report to a minimum-security prison in Connecticut by the afternoon of Nov. 7. This particular facility, located near Boston, houses both male and female inmates and is known for its minimum-security environment.
The FTX Scandal and Ellison’s Role
Following FTX’s collapse in 2022, Ellison faced charges related to fraud, money laundering, and misuse of customer funds. She admitted to seven charges and cooperated with prosecutors, sharing detailed testimony about FTX’s internal workings and Bankman-Fried’s involvement. Her cooperation earned her a reduced sentence, with Judge Lewis Kaplan ultimately assigning her two years.
Public Scrutiny and Intense Media Coverage
Since FTX’s collapse, Ellison has been in the media spotlight, facing a wave of public and online criticism. Court documents reveal that she was often harassed outside the courthouse and mocked online, with social media users dissecting her personal life, appearance, and actions.
The Fate of Other FTX Execs
Ellison isn’t alone in facing consequences. Other former FTX and Alameda leaders have also been sentenced. Ex-FTX co-CEO Ryan Salame pleaded guilty, while former engineering director Nishad Singh received a “time served” sentence. Gary Wang, co-founder of FTX, will be the last of this group to be sentenced, expected on Nov. 20. He, too, cooperated with prosecutors by testifying against Bankman-Fried.
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