Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Caroline Ellison Receives Two-Year Sentence in Crypto Fraud Case
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Caroline Ellison Sentence
PhotoNews Pakistan > Business > Caroline Ellison Receives Two-Year Sentence in Crypto Fraud Case
Business

Caroline Ellison Receives Two-Year Sentence in Crypto Fraud Case

Web Desk
By Web Desk Published September 25, 2024 2 Min Read
Share
Caroline Ellison, Ex-CEO of Alameda Research. Photo Credits: @GlobalMoneyAI (X)
SHARE

Caroline Ellison, former CEO of Alameda Research, received a two-year sentence for her involvement in a significant cryptocurrency fraud case.

The sentence is notably less severe than the potential maximum of 110 years she faced after admitting guilt to seven charges, including fraud.

Ellison testified against her ex-boyfriend, FTX founder Sam Bankman-Fried, during his trial. Her cooperation with prosecutors played a part in her sentencing, as the Manhattan District Attorney’s Office did not recommend a specific term to Judge Lewis Kaplan, only suggesting he consider her previous cooperation.

🚨 JUDGE KAPLAN: “I’ve seen a lot of cooperators in 30 years. I’ve never seen one quite like Ms. Ellison.”

Caroline Ellison of FTX wins the best snitch of all time award! pic.twitter.com/mXswHr8h6Q

— Autism Capital 🧩 (@AutismCapital) September 24, 2024

Bankman-Fried, known as “SBF,” was sentenced in March to 25 years for orchestrating one of the largest financial frauds in history. He is currently serving his sentence and has filed an appeal.

Read: Sam Bankman Fried Sentenced to 25 Years for FTX Fraud

In her testimony, Ellison claimed Bankman-Fried misappropriated customer funds to finance risky ventures. In defence, Bankman-Fried accused her of poor management.

Actions taken by FTX leadership are considered one of the biggest financial frauds in U.S. history. One of the executives, Caroline Ellison, may evade prison time after playing a key role in building the case against founder Sam Bankman-Fried. pic.twitter.com/9IFnvwbnoB

— USA TODAY Travel (@usatodaytravel) September 24, 2024

Bankman-Fried had risen to prominence in the cryptocurrency sphere, turning his startup FTX, launched in 2019, into the world’s second-largest cryptocurrency trading platform within months. However, the trial revealed that FTX had misused deposited assets for high-risk transactions through Alameda Research, purchasing real estate, and making political donations.

FTX collapsed in November 2022, declaring bankruptcy with over $8 billion in liabilities.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Shadab Khan Shoulder Surgery

Shadab Khan Undergoes Successful Shoulder Surgery

Seine River Swimming

Paris Seine River Opens for Public Swimming for First Time Since 1923

BISE Rawalpindi

How to Check BISE Rawalpindi Matric Class 10 Results

Post Archives

More Popular from Photonews

Helldivers 2 Xbox
Tech

Helldivers 2 Lands on Xbox Series X|S with Crossplay in August 2025

2 Min Read
Pakistan Stock Exchange 2025
Business

Pakistan Stock Exchange KSE-100 Soars Past 130,000 in Historic Rally

2 Min Read
Jake Paul WBA Ranking
Sports

Jake Paul Enters WBA Top 15, Eyes Cruiserweight Title After Chávez Jr. Win

3 Min Read
Pakistan

Muharram 9 Processions Held Across Pakistan Under Tight Security

On July 5, 2025, Pakistan observed Muharram 9 with processions in major cities, including Karachi, Lahore,…

July 5, 2025
Business

Pakistan Stock Exchange Hits Record 130,687 on July 03, 2025

On July 3, 2025, the Pakistan Stock Exchange (PSX) continued its bullish run, with the KSE-100…

July 3, 2025
Entertainment

Beyoncé Narrowly Escapes Fall After “Flying Car” Malfunctions

A dramatic moment unfolded during Beyoncé’s Cowboy Carter Tour stop in Houston on June 28, 2025,…

June 30, 2025
PakistanTop News

Pakistan and China Plan New Regional Bloc to Replace SAARC

On June 30, 2025, reports emerged that Pakistan and China are advancing plans for a new…

June 30, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?