Former Alameda CEO Caroline Ellison sentenced to two years in prison

ChainCatcher news, former Alameda Research co-CEO Caroline Ellison has been sentenced to two years in prison. Ellison will also forfeit approximately $11 billion and may serve her sentence in a "minimum security facility." Ellison is also the ex-girlfriend of former FTX CEO SBF, and she pleaded guilty in December 2022 to seven counts of wire fraud, commodities fraud, securities fraud, and money laundering.

In March of this year, Ellison told the court that SBF directed her to commit the crimes that led to FTX's bankruptcy. Alameda had access to customer deposits through an unlimited credit line and could directly access customer deposits sent to Alameda's bank accounts. Judge Lewis Kaplan, who oversees the sentencing of SBF, stated on Tuesday that the difference between SBF and Ellison is that the latter cooperated with prosecutors, while "SBF denied the whole thing."

Former FTX engineering director Nishad Singh and co-founder Gary Wang also pleaded guilty to criminal charges and are cooperating with prosecutors. They are scheduled to appear for sentencing hearings on October 30 and November 20, respectively. In March of this year, SBF was sentenced to nearly 25 years in prison and ordered to repay investors and creditors up to $11 billion in losses.