Caroline Ellison has commenced her 2-year prison sentence in a Connecticut federal facility due to her involvement in the FTX crypto exchange collapse. This decision follows her role as a crucial witness in the prosecution of Sam Bankman-Fried, who received a 25-year prison term.
Ellison has been ordered to forfeit $11 billion as part of her punishment. Despite this cooperation and contribution to the trial, Judge Kaplan declined recommendations that she avoid a prison sentence entirely.
Ellison was head of Alameda Research and played a significant role in the company's malpractices, which contributed significantly to FTX's downfall.
