Yesterday, Tuesday, September 24^th 2024, a New York Manhattan U.S. District Federal judge sentenced former cryptocurrency executive Caroline Ellison to two years in prison and ordered her to forfeit 11.2 billion dollars. 

Caroline Ellison agreed to a plea deal in December of 2022.  She became the prosecution’s star witness. 

She had worked for FTX, of which her former boyfriend, Sam Bankman-Fried, was the CEO.  Ellison became the CEO of Alameda Research hedge fund.  The two companies were closely related, and excessively so, in that they were intermeshed.

While U.S. District Judge Lewis Kaplan praised Caroline Ellison for her extensive and extraordinary cooperation with the prosecution, he told the court he could not just hand her a “get-out-of-jail-free” card.  He stated he couldn’t agree to that considering the enormity of the fraud.  The prosecutors and the judge alike have called it one of the biggest financial frauds in U.S. history.

Sam Bankman-Fried was sentenced on March 28^th 2024 to 25 years in prison.  A jury found him guilty in November 2023 on seven fraud and conspiracy counts, emerging from FTX’s 2022 collapse.

Caroline Ellison was one of... Read More

Hazel Ortega had a second complaint filed against her on July 24, 2024. It was filed by the Los Angeles County District Attorney.  

She is a vocational counselor who works to return injured... Read More