Current:Home > MyCaroline Ellison begins 2-year sentence for her role in Bankman-Fried’s FTX fraud-DB Wealth Institute B2 Reviews & Ratings
Caroline Ellison begins 2-year sentence for her role in Bankman-Fried’s FTX fraud
lotradecoin servicequality View Date:2024-12-25 14:45:07
DANBURY, Conn. (AP) — Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, began her two-year prison sentence Thursday for her role in a fraud that cost investors, lenders and customers billions of dollars.
Ellison, 30, reported to the federal prison in Danbury, Connecticut, according to the Federal Bureau of Prisons. She had pleaded guilty and testified extensively against Bankman-Fried, her former boyfriend, before he was convicted and sentenced to 25 years in prison.
Ellison could have faced decades in prison herself, but both the judge and prosecutors said she deserved credit for her cooperation. At her sentencing hearing in New York in September, she tearfully apologized and said she was “deeply ashamed.”
Ellison was chief executive at Alameda Research, a cryptocurrency hedge fund controlled by Bankman-Fried. FTX was one of the world’s most popular cryptocurrency exchanges, known for its Superbowl TV ad and its extensive lobbying campaign in Washington, before it collapsed in 2022.
U.S. prosecutors accused Bankman-Fried and other top executives of looting customer accounts on the exchange to make risky investments, make millions of dollars of illegal political donations, bribe Chinese officials and buy luxury real estate in the Caribbean.
veryGood! (4)
Related
- Family of man killed by Connecticut police officer files lawsuit, seeks federal probe of department
- Best Kitten Heels for Giving Your Style a Little Lift, Shop the Trend With Picks From Amazon, DSW & More
- Why Paige DeSorbo Wasn't by Boyfriend Craig Conover's Side at 2024 People's Choice Country Awards
- Indicted New York City mayor could appear before a judge Friday
- 'Alien: Romulus' movie review: Familiar sci-fi squirms get a sheen of freshness
- Dodgers win NL West for 11th time in 12 seasons
- Today Show’s Dylan Dreyer Shares Who Could Replace Hoda Kotb
- How the new 2025 GMC Yukon offers off-road luxury
- Kaley Cuoco and Tom Pelphrey announce engagement with new photos
- Lady Gaga draws inspiration from her ‘Joker’ sequel character to create ‘Harlequin’ album
Ranking
- Judge tells Google to brace for shakeup of Android app store as punishment for running a monopoly
- Empowering Investors: The Vision of Dream Builder Wealth Society
- Menendez brothers' family slam 'grotesque' Netflix show 'Monsters' for 'outright falsehoods'
- People's Choice Country Awards 2024: Complete Winners List
- Usher concert postponed hours before tour opener in Atlanta
- Watch: Grounds crew helps Athletics fans get Oakland Coliseum souvenir
- 'Experienced climber' from New York dies after falling up to 400 feet while hiking in Colorado
- Miranda Lambert Shouts Out Beer and Tito's in Relatable Icon Award Speech at 2024 PCCAs
Recommendation
-
How a small group of nuns in rural Kansas vex big companies with their investment activism
-
'Experienced climber' from New York dies after falling up to 400 feet while hiking in Colorado
-
Athletics fans prepare for final game at Oakland Coliseum: 'Everyone’s paying the price'
-
10 Cozy Fleece Jackets You Need to Stock up on This Fall While They’re up to 60% off on Amazon
-
Pro-Palestinian protesters who blocked road near Sea-Tac Airport to have charges dropped
-
Last of Us' Bella Ramsey and Nashville's Maisy Stella Seemingly Confirm Romance
-
Kane Brown Got One Thing Right in His 2024 PCCAs Speech With Shoutout to Katelyn Brown and Kids
-
Horoscopes Today, September 26, 2024