Technology
Caroline Ellison sentenced to two years in prison for FTX fraud
Caroline Ellison, former CEO of Alameda Research, a subsidiary of FTX, was sentenced to two years in prison on Tuesday.
Ellison pleaded guilty to conspiring with Sam Bankman-Fried of FTX to steal $8 billion in customer funds, but was extremely cooperative witness, helping law enforcement investigate an enormous fraud. Her two-year sentence stands in stark contrast to Bankman-Fried’s 25-year sentence.
Although he’s currently in prison, Bankman-Fried remains to be appealing his conviction. Unlike Ellison, the previous FTX founder has pleaded not guilty. Two other former FTX executives, Gary Wang and Nishad Singh, are awaiting sentencing.
This article was originally published on : techcrunch.com