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25th September 2024
Former cryptocurrency executive Caroline Ellison was jailed for two years on Tuesday for her involvement in the theft of approximately $8 billion in customer funds tied to the collapse of the FTX exchange, founded by her ex-boyfriend Sam Bankman-Fried.
Ellison pleaded guilty to seven felony counts of fraud and conspiracy and served as a key prosecution witness in Bankman-Fried’s trial, where he received a 25-year prison sentence last year.
The 29-year-old’s sentencing comes despite some legal experts suggesting Ellison may skirt jail time for her extensive cooperation against Bankman-Fried, the former billionaire head of the $32 billion cryptocurrency exchange. READ MORE
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