Caroline Ellison, former FTX executive, sentenced to 24 months in prison
CBSN
Caroline Ellison, a former top executive at Sam Bankman-Fried's FTX cryptocurrency exchange, was sentenced Tuesday to 24 months for her role in a multibillion-dollar fraud involving the bankrupt company.
Ellison, 29, pleaded guilty nearly two years ago and testified against Bankman-Fried for nearly three days at his trial on multiple fraud charges last November. In her emotional testimony, she blamed Bankman-Fried for justifying FTX's illegal conduct and said she had felt relief when the company collapsed because she "didn't have to lie anymore."
Ellison can serve the sentence at a minimum-security facility, Judge Lewis A. Kaplan said at the sentencing, according to Bloomberg News, which also reported she'll have to forfeit $11 billion.
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