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Caroline Ellison to be sentenced after serving as star witness against FTX’s Sam Bankman-Fried

The Guardian by wa-news on The Guardian 4 views

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Ex-Alameda CEO and ex-girlfriend of fallen crypto mogul pleaded guilty, but prosecutors signalled lenient sentenceCaroline Ellison, the former crypto executive and romantic partner of the disgraced FTX founder Sam Bankman-Fried, is slated to be sentenced in Manhattan federal court on Tuesday. Ellison was a central figure in the FTX bankruptcy saga and key witness for the prosecution in the $8bn fraud trial that ended with Bankman-Fried’s conviction.Ellison served as the CEO of Alameda Research, which was the trading arm of the now defunct FTX crypto exchange. The collapse of FTX, once valued at $32bn, was directly linked to revelations that it was attempting to financially prop up Alameda with fraudulent accounting. Subsequent investigations and criminal charges found that both FTX and the hedge fund had used billions in customer funds for risky trades and lavish personal spending. Continue reading…

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Source link : https://www.theguardian.com/business/2024/sep/24/caroline-ellison-sentenced-sam-bankman-fried-ftx

Author : Nick Robins-Early

Publish date : 2024-09-24 12:30:03

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Tags : The Guardian

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