Caroline Ellison sentenced to two years in prison for FTX fraud

Date:

Share post:


Caroline Ellison, the former CEO of FTX affiliate Alameda Research, was sentenced to two years in prison on Tuesday.

Ellison had pled guilty to conspiring with FTX’s Sam Bankman-Fried to steal $8 billion worth of customers’ funds, but she was an exceedingly cooperative witness, helping law enforcement to investigate the massive fraud scheme. Her two-year sentence stands in stark contrast to Bankman-Fried’s 25-year sentence.

Though he is currently in prison, Bankman-Fried has continued to appeal his sentence. Unlike Ellison, the former FTX founder pled not guilty. Two other former FTX executives, Gary Wang and Nishad Singh, await sentencing.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Bluesky is courting the Swifties

Bluesky has grown by 2 million users — about 15% — since Donald Trump won the U.S....

Ford will pay up to $165M fine for rearview camera recall failures

Ford has agreed to pay a $165 million penalty to federal regulators after moving too slowly to...

Will Rivian be Volkswagen’s software savior? VW is betting $5.8B it will

Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of...

ChatGPT can now read some of your Mac’s desktop apps

OpenAI’s ChatGPT is starting to work with other apps on your computer. On Thursday, the startup announced the...

New Apple security feature reboots iPhones after 3 days, researchers confirm

Apple’s new iPhone software comes with a novel security feature that reboots the phone if it’s not...

AI pioneer Francois Chollet leaves Google

Francois Chollet, a leading figure in the AI world, is leaving Google after close to a decade....

Amazon’s telehealth platform adds low-cost plans for hair loss, skin care, and more

Amazon One Medical is expanding its telehealth services with the launch of upfront and low-cost treatment plans...

Sales tax automation startup Kintsugi doubled its valuation this year

A 2018 Supreme Court ruling eliminated the requirement that an e-commerce retailer needed a physical location in...