Fmr. FTX exec Caroline Ellison sentenced to 2 years over crypto fraud

Caroline Ellison, a former top executive with the failed cryptocurrency firm FTX, was sentenced to two years in prison Tuesday, Sept. 24, in connection to a fraud scheme that stole $8 billion from investors and customers. The judge and prosecutors agreed to give Ellison a lighter sentence after she pleaded guilty and testified against FTX founder and her former boyfriend Sam Bankman-Fried during his trial last November.

Bankman-Fried was found guilty and sentenced to 25 years in prison.

The judge called Ellison’s cooperation “very, very substantial” but added a prison sentence was necessary because she participated in what could possibly be the “ greatest financial fraud ever perpetrated in this country or anywhere else. ”

Ellison is to report to prison Nov. 7.

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