Caroline Ellison, former FTX top executive, sentenced to 2 years in prison and ordered to return $11B for her role in an $8B financial fraud that led to the exchange’s collapse 💵

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Caroline Ellison, former executive at FTX and ex-girlfriend of founder Sam Bankman-Fried, has been sentenced to two years in prison for her role in the collapse of the crypto exchange, one of the largest financial frauds in US history. She had faced up to 110 years but received a lighter sentence due to her cooperation with prosecutors. Ellison admitted to charges like wire fraud and money laundering and agreed to forfeit over $11 billion.

Ellison testified against Bankman-Fried, who was sentenced to 25 years for stealing $8 billion from customers. In court, she expressed deep remorse, stating she couldn't fully grasp the scale of the harm caused. FTX, once the third-largest crypto exchange globally, collapsed in 2022 after financial troubles surfaced.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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