Alright, folks, this one’s spicy! Caroline Ellison, ex-head honcho of Alameda Research, just got slapped with a two-year stint in a low-security prison for her starring role in the FTX fiasco. This dropped today, September 24, and the courtroom wasn’t shy with the details. Judge Lewis Kaplan presided over the Southern District of New York, and while he could’ve thrown the book at her (110 years, ouch!), he opted for something lighter. But yeah, she’s gotta forfeit a cool $11 billion she bagged during the FTX free-for-all.
Sympathy Over Kryptonite?
Judge Kaplan didn’t pull punches though, calling out that while Ellison’s strong, “Mr. Bankman-Fried had your Kryptonite.” Yeah, real comic book vibes in the court, folks. It sounds like Kaplan didn’t see her as some untouchable crypto villain. She was played. She folded her hands, the family was in tears, and, well, you know the scene. Plus, this case was already packed with drama.
Ellison’s been saying she couldn’t even go outside without getting harassed by the crypto mob. So she spilled all the tea on Sam Bankman-Fried to get that leniency recommendation.
No “Get Out of Jail Free” Card
Ellison’s legal team tried hard for time served, but Kaplan was like, nah, no “get out of jail free” pass here. Sorry, not sorry.
And it’s not just Ellison—other FTX comrades like Gary Wang and Nishad Singh are up next on the chopping block. Wang’s date is Nov. 20, Singh’s is Oct. 30. If you’re keeping tabs on this crypto crime soap opera, buckle up.
As for Bankman-Fried himself? Already serving 25 years since March. Seems like the house of FTX cards is tumbling down hard.