Caroline Ellison, the former boss of the trading firm through which FTX gambled billions of dollars in customer funds, has been sentenced to two years in prison, after aiding prosecutors in the criminal case against Sam Bankman-Fried, the collapsed cryptocurrency exchange’s founder.
At a hearing in New York federal court on Tuesday, Judge Lewis Kaplan acknowledged that the 29-year-old was “genuinely remorseful” and that she was “exploited” by Bankman-Fried. However, her early and fulsome co-operation could not be a “get out of jail free card”, he added.
Ellison, who turned government witness days after FTX’s collapse in November 2022, had earlier apologised for her role in the fraud.
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