Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of Democrat FTX founder Sam Bankman-Fried, was sentenced to 24 months in prison for her role in defrauding investors before FTX’s collapse.
She also received three years of supervision and must forfeit $7.11 billion.
Although facing up to 110 years in prison, prosecutors requested leniency due to her cooperation in convicting Bankman-Fried.
Ellison had pleaded guilty to multiple charges, acknowledging her role but stressing she was not the primary orchestrator of the fraud.
In December 2022, Fried was arrested in the Bahamas after the United States filed criminal charges against him.
“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law,” Bahamas Prime Minister Philip Davis said at the time.
FTX filed for bankruptcy the month prior and Bankman-Fried stepped down from his role as CEO after the crypto trading firm imploded from a mismanagement of funds.
The arrest came as Bankman-Fried was expected to testify before the House Financial Services Committee.
