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News@lemmy.worldEnglish · 1 month ago

Caroline Ellison, who helped convict Sam Bankman-Fried, sentenced to two years for FTX crypto fraud

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Caroline Ellison, who helped convict Sam Bankman-Fried, sentenced to two years for FTX crypto fraud

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 1 month ago

Ellison testified as a star witness against her ex-boyfriend and FTX's founder, Sam Bankman-Fried.

Caroline Ellison has been sentenced to two years in jail for her role in the collapse of the cryptocurrency exchange FTX, which has been described as one of biggest financial frauds in US history.

Ellison was a top executive at the firm and is also the ex-girlfriend of its founder, Sam Bankman-Fried, who was sentenced to 25 years in prison for stealing $8bn (£6.3bn) from customers.

As part of a plea deal, Ellison admitted charges including wire fraud and money laundering, and testified against Bankman-Fried.

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1 month ago
“She had faced a maximum sentence… of 110 years in prison.” She got 2, but the max would have been 110.
- xorollo@leminal.space
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  Thanks, that’s much clearer.

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