Caroline Ellison was sentenced to two years in federal prison on Tuesday for her involvement in the FTX fraud scandal.<\/p>\n
The 30-year-old was also ordered to forfeit $11 billion, which she earned through her association with the now-collapsed cryptocurrency exchange.<\/p>\n
Judge Lewis A. Kaplan, who presided over the case, acknowledged the former Alameda Research CEO\u2019s cooperation with the prosecution, \u201cI\u2019ve never seen a cooperator quite like Miss Ellison,\u201d he remarked. Despite this, Kaplan emphasized that the scale of the FTX fraud meant she could not avoid prison time. \u201cCooperation isn\u2019t a \u2018get out of jail free\u2019 card in a case of this magnitude,\u201d he added.<\/p>\n
Her sentence includes three years of supervised release upon completing her prison term, which she could serve at a minimum-security facility near Boston. Due to the federal nature of her crime, she has to serve at least 75% of her sentence before being eligible for parole.<\/p>\n
Prosecutors described<\/a> Ellison\u2019s testimony as crucial to Bankman-Fried\u2019s conviction, calling it the \u201ccornerstone\u201d of the case in a memo before Tuesday\u2019s hearing. Assistant U.S. Attorney Danielle Sassoon also highlighted this, contrasting her remorse with his lack of accountability.<\/p>\n Her attorneys also argued that her \u201cextraordinary cooperation\u201d and low risk of reoffending should result in a more lenient sentence. Her legal team and probation department had previously recommended<\/a> time served plus three years probation.<\/p>\n Her lawyer, Anjan Sahni, said Ellison had been manipulated by SBF, with whom she had a past romantic relationship, and that she had since \u201crecovered her moral compass.\u201d Judge Kaplan added, \u201cYou were vulnerable, and you were exploited.\u201d<\/p>\n Meanwhile, the FTX\u00a0 founder is seeking<\/a> a new trial with a different judge, claiming bias in his previous case. His legal team has filed<\/a> an appeal, arguing that Judge Kaplan, who presided over the original trial, showed a prejudicial attitude that they believe impacted the verdict.<\/p>\n Additionally, a group of doctors submitted <\/a>a brief supporting his appeal, citing his neurodivergent conditions, including autism spectrum disorder (ASD) and ADHD. They argued that his conditions, combined with a lack of access to necessary medication during the trial, affected his ability to communicate effectively and contributed to his conviction.<\/p>\n Before being sentenced, Ellison was remorseful, apologizing to FTX\u2019s former customers, her family, and colleagues.\u201dThe human brain is bad at comprehending big numbers,\u201d she said. \u201cI can\u2019t even begin to imagine the pain I\u2019ve caused.\u201d<\/p>\n She concluded, \u201cIf you had told me back in 2018 that I would end up pleading guilty to fraud, I would have told you you were crazy\u2026 At each stage of the process, it became harder and harder to extricate myself\u2026I\u2019m sorry I wasn\u2019t brave.\u201d<\/p>\n The post Former Alameda Research CEO Caroline Ellison\u2019s Sentencing Revealed<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Caroline Ellison was sentenced to two years in federal prison on Tuesday for her involvement in the FTX fraud scandal. The 30-year-old was also ordered to forfeit $11 billion, which she earned through her association with the now-collapsed cryptocurrency exchange. Ellison\u2019s Cooperation Judge Lewis A. Kaplan, who presided over the case, acknowledged the former Alameda […]<\/p>\n","protected":false},"author":0,"featured_media":9482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9481"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9481"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9482"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}SBF\u2019s Appeal for New Trial<\/h2>\n