"Ellison's release is an epilogue to one of the largest financial-fraud investigations in US history. The collapse of FTX, once among the world's biggest crypto firms, attracted immense media attention, rattled markets and for a time led to increased regulatory scrutiny of the crypto industry. Along with Bankman-Fried, Ellison was the most prominent character in FTX's $8bn fraud. Her digital footprint, which included Tumblr posts on race science and polyamory, provided substantial fuel for social media mockery and tabloid headlines."
"At her 2024 sentencing, Judge Lewis Kaplan said that he had never seen someone cooperate with the prosecution like Ellison in his 30 years on the bench. Kaplan nevertheless told the court that, given the severity of the crimes, he had decided to sentence Ellison to jail time, along with ordering her to forfeit $11bn in assets. Ellison began serving her two-year sentence in a Connecticut prison, but was transferred last October to community confinement, the Bureau of Prisons told Business Insider."
Caroline Ellison, former head of FTX's associated trading arm, was released from federal custody after serving about 14 months for her role in the multibillion-dollar FTX fraud. Ellison pleaded guilty to seven charges including wire fraud and money laundering and was sentenced to 24 months in 2024. She cooperated with prosecutors and testified that Sam Bankman-Fried directed her to commit crimes; Bankman-Fried received a 25-year sentence. Judge Lewis Kaplan praised her cooperation but imposed jail time and ordered forfeiture of $11 billion. Ellison began in a Connecticut prison and was later moved to community confinement.
Read at www.theguardian.com
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