Caroline Ellison Sentenced in FTX Fraud

Cheddar News

Caroline Ellison, the former CEO of alameda research and key witness in the FTX fraud case, was sentenced to two years in prison and ordered to forfeit $11B.

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00:00Carolyn Ellison, the former CEO of Alameda Research and key witness in the FTX fraud

00:06case, was sentenced to two years in prison and ordered to forfeit $11 billion for her

00:12role in the collapse of FTX.

00:15Although she cooperated extensively with prosecutors helping convict founder Sam Bankman-Fried,

00:22Judge Lewis Kaplan said her sentence was necessary to deter future financial crimes.

00:28Ellison expressed remorse for her actions.

00:31Bankman-Fried, sentenced to 25 years, is appealing his conviction.

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