{"id":639511,"date":"2024-09-25T14:01:21","date_gmt":"2024-09-25T11:01:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison\/"},"modified":"2024-09-25T14:01:21","modified_gmt":"2024-09-25T11:01:21","slug":"caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison\/","title":{"rendered":"#Caroline Ellison, former FTX executive, sentenced to 24 months in prison"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be8e9c8ae2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be8e9c8ae2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison\/#%E2%80%9CVulnerable%E2%80%9D_Ellison\" >&#8220;Vulnerable&#8221; Ellison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison\/#Life_after_FTX\" >Life after FTX<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/caroline-ellison-former-ftx-executive-sentenced-to-24-months-in-prison\/#More_from_CBS_News\" >More from CBS News<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<div id=\"\">Caroline Ellison, a former top executive at Sam Bankman-Fried&#8217;s FTX cryptocurrency exchange, was sentenced Tuesday to 24 months for her role in a multibillion-dollar fraud involving the bankrupt company.<\/p>\n<p>Ellison, 29, pleaded guilty nearly two years ago and <span class=\"link\">testified against<\/span>\u00a0Bankman-Fried for nearly three days at his trial on multiple fraud charges last November. In her emotional testimony, she blamed Bankman-Fried for justifying FTX&#8217;s illegal conduct and said she had felt relief when the company collapsed because she &#8220;didn&#8217;t have to lie anymore.&#8221;<\/p>\n<p>U.S. District Judge Lewis A. Kaplan said Ellison&#8217;s cooperation in the case was &#8220;very, very substantial&#8221; and praised her testimony, saying he saw no inconsistencies with documents shown to the jury or things she had previously told prosecutors.<\/p>\n<aside class=\"newsletter_signup \">\n<figure class=\"embed embed--type-newsletter-widget embed--float-none embed--size-large embed--type-iframe\" data-ads=\"{\" wordcount=\"\">\n<\/figure>\n<\/aside>\n<p>  But Kaplan said a prison sentence was warranted because Ellison had participated in what he said might be the &#8220;greatest financial fraud ever perpetrated in this country.&#8221; As a result, her cooperation with prosecutors should not serve as a get-out-of-jail-free card, Kaplan said.<\/p>\n<p>&#8220;I&#8217;ve seen a lot of cooperators in 30 years here. I&#8217;ve never seen one quite like Ms. Ellison,&#8221; the judge said.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CVulnerable%E2%80%9D_Ellison\"><\/span>&#8220;Vulnerable&#8221; Ellison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In handing down his sentence, Kaplan also described Ellison as &#8220;vulnerable&#8221; and &#8220;exploited,&#8221; according to Bloomberg <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>.<\/p>\n<p>She was ordered to report to prison Nov. 7. Ellison can serve the sentence at a minimum-security facility, and she&#8217;ll have to forfeit $11 billion, Bloomberg News reported.<\/p>\n<p>Ellison was chief executive at Alameda Research, a cryptocurrency hedge fund controlled by Bankman-Fried that was used to process FTX customer funds. In her testimony, she disclosed that she altered balance sheets to try to hide that Alameda was borrowing about $10 billion from FTX customers in June 2022, when the crypto market was plummeting and some lenders were demanding that Alameda return their money.<\/p>\n<figure class=\"embed embed--type-image is-image embed--float-none embed--size-medium\"><span class=\"img embed__content\"><img alt=\"FTX Co-Founder Sam Bankman-Fried On Trial For Fraud \" height=\"413\" width=\"620\" class=\" lazyload\" srcset=\"https:\/\/assets1.cbsnewsstatic.com\/hub\/i\/r\/2024\/09\/24\/5dff2d08-4b0b-46d2-9e5b-4ec17d492f79\/thumbnail\/620x413\/cf4be632f937f6b343860bf84fea1a7b\/gettyimages-1720682370.jpg?v=36448e13600c4b59440e954caff28fc1 1x, https:\/\/assets2.cbsnewsstatic.com\/hub\/i\/r\/2024\/09\/24\/5dff2d08-4b0b-46d2-9e5b-4ec17d492f79\/thumbnail\/1240x826\/232cfa876ca4b6589694e249e8c5bec0\/gettyimages-1720682370.jpg?v=36448e13600c4b59440e954caff28fc1 2x\"><\/span><figcaption class=\"embed__caption-container\"><span class=\"embed__caption\">Caroline Ellison, former CEO of Alameda Research and FTX executie, leaves court in New York, New York, on Thursday, Oct. 12, 2023.<\/span><\/p>\n<p>                  <span class=\"embed__credit\"><\/p>\n<p>                Stephanie Keith\/Bloomberg via Getty Images<\/p>\n<p>                          <\/span><br \/>\n              <\/figcaption><\/figure>\n<p>Prior to FTX&#8217;s collapse, Bankman-Fried had became a billionaire through cryptocurrencies, earning a Fortune magazine cover that asked if he was the next Warren Buffett. But after FTX collapsed into bankruptcy, a jury concluded that some of FTX investors&#8217; money had been improperly spent on real estate, investments, celebrity endorsements, political contributions and lavish lifestyles.<\/p>\n<p>In asking the court leniency, Ellison&#8217;s own lawyers cited both her testimony and the trauma of her off-and-on romantic relationship with Bankman-Fried, though they also stressed that she wasn&#8217;t trying to evade responsibility for her crimes.<\/p>\n<p>&#8220;Caroline blames no one but herself for what she did,&#8221; her lawyers wrote in a court filing. &#8220;She regrets her role deeply and will carry shame and remorse to her grave.&#8221;<\/p>\n<p>Bankman-Fried is\u00a0<span class=\"link\">serving a 25-year sentence<\/span>\u00a0after he was sentenced in March in what a prosecutor once described as one of the largest financial frauds in U.S. history.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Life_after_FTX\"><\/span>Life after FTX<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since testifying at Bankman-Fried&#8217;s trial, Ellison has engaged in extensive charity work, written a novel and worked with her parents on a math enrichment textbook for advanced high school students, according to her lawyers.<\/p>\n<p>They said she also now has a healthy romantic relationship and has reconnected with high school friends she had lost touch with while she worked for and sometimes dated Bankman-Fried from 2017 until late 2022.<\/p>\n<p><em>\u2014With reporting by the Associated Press.<\/em><\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<h3 class=\"component__title\"><span class=\"ez-toc-section\" id=\"More_from_CBS_News\"><\/span>More from CBS News<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/aside>\n<p><!-- tags --><\/p>\n<div class=\"content-author\">\n      Aimee Picchi<\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.cbsnews.com\/news\/caroline-ellison-ftx-executive-alameda-sam-bankman-fried-sentence-prison\/?ftag=YHF4eb9d17\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Caroline Ellison, a former top executive at Sam Bankman-Fried&#8217;s FTX cryptocurrency exchange, was sentenced Tuesday to 24 months for her role in a multibillion-dollar fraud involving the bankrupt company. Ellison, 29, pleaded guilty nearly two years ago and testified against\u00a0Bankman-Fried for nearly three days at his trial on multiple fraud charges last November. In her&#8230;<\/p>\n","protected":false},"author":1,"featured_media":639512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2024\/09\/24\/a37807f1-7fc5-46e5-825d-d9f9ef933b94\/thumbnail\/1200x630\/143f0d38c5b74931d8f211b634342441\/gettyimages-1720682370.jpg?v=36448e13600c4b59440e954caff28fc1","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-639511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/639511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=639511"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/639511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/639512"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=639511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=639511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=639511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}