Former Alameda Research CEO Sentenced to 2 Years in Prison
Caroline Ellison, the former CEO of Alameda Research, was sentenced yesterday to two years in a minimum-security prison by Judge Lewis Kaplan in the District Court of Southern New York for her involvement in the collapse of FTX.
Along with the prison sentence, Ellison must also forfeit the approximately $11 billion she earned from FTX. Her surrender date will be set after November 7.
Although Ellison could have been sentenced to up to 110 years in prison, Judge Kaplan expressed sympathy for her during the sentencing.
According to Bloomberg, he told her:
“You’re a strong person, Ms. Ellison, but not inviolable. Mr. Bankman-Fried was your Achilles’ heel. You were vulnerable and he exploited that vulnerability.”
Ellison reacted by clasping her hands in front of her while her family members in attendance at the trial cried.
The typically private Ellison revealed that she has been a victim of harassment from the cryptocurrency community, both in the media and in real life, making her afraid to leave her home.
