All articles tagged with #caroline ellison
Caroline Ellison, former CEO of Alameda Research and involved in the FTX fraud scheme, has been moved from federal prison to community confinement, with her projected release date moved up to February 2026, after serving about 11 months of her two-year sentence.
Caroline Ellison, former CEO of Alameda Research and key figure in the $11 billion FTX fraud, has had her prison release date moved up to July 2026, less than two years after starting her sentence. This adjustment is due to potential good behavior credits under the First Step Act. Ellison, who cooperated with prosecutors against Sam Bankman-Fried, expressed remorse during her sentencing. Bankman-Fried, sentenced to 25 years, remains in custody as he appeals his conviction.
Caroline Ellison, former CEO of Alameda Research and a key witness in the FTX fraud case, has begun her two-year prison sentence in Connecticut. Despite her cooperation in the prosecution of FTX founder Sam Bankman-Fried, who received a 25-year sentence, Ellison was sentenced to prison to deter future fraud. She was also ordered to forfeit $11 billion. Ellison had pleaded guilty to conspiracy and financial fraud charges, admitting her role in the misuse of $8 billion in customer funds.
Caroline Ellison, former CEO of Alameda Research and a key figure in the FTX cryptocurrency fraud, has begun her two-year prison sentence in Danbury, Connecticut. Ellison, who cooperated with prosecutors and testified against her former boyfriend Sam Bankman-Fried, received a reduced sentence for her role in the scheme that defrauded investors and customers of billions. Bankman-Fried was sentenced to 25 years in prison for his involvement in the collapse of FTX, which was once a leading cryptocurrency exchange.
A secretly recorded audio clip of Caroline Ellison, a former employee of Alameda Research, has revealed the moment when staff learned that the trading firm was using user funds from FTX. The recording, obtained by Cointelegraph, sheds light on the tension and concerns within Alameda leading up to FTX's collapse. Ellison explained during an all-hands meeting that Alameda had borrowed money from FTX, leading to a shortfall in user funds. The recording was played in court during Sam Bankman-Fried's trial, and former employees expressed shock and decided to leave the company. The meeting also revealed previously undisclosed information, including the abandoned acquisition of FTX by Binance.
Testimony in Sam Bankman-Fried's criminal trial reveals his belief in becoming US president, the value he placed on his hair for FTX's image, and his disregard for rules like "don't lie" and "don't steal." Bankman-Fried faces charges for defrauding FTX's and Alameda's customers and investors, as well as conspiracy to commit money laundering. His ex-girlfriend and former executive, Caroline Ellison, testified that he directed her to commit fraud. FTX went bankrupt in 2022, and Bankman-Fried is accused of misappropriating funds for personal gain, campaign contributions, and operating costs.
Caroline Ellison, the former CEO of Alameda Research, testified in the criminal fraud trial of Sam Bankman-Fried, stating that he made "terrible mistakes" that led to the collapse of FTX and Alameda. Ellison, the prosecution's star witness, maintained her account during cross-examination, despite attempts by Bankman-Fried's defense lawyer to undermine her testimony. She claimed that Bankman-Fried knew about the misuse of billions of dollars in customer funds and directed her to tap into FTX customer money. Ellison, along with two other FTX executives, pleaded guilty to fraud and agreed to cooperate with the government.
Sam Bankman-Fried's defense attorney struggled to effectively challenge the testimony of Caroline Ellison, his former girlfriend and the government's key witness in his criminal fraud trial. Ellison testified that Bankman-Fried directed her to use money from FTX customer accounts to fund investments and trading strategies at his cryptocurrency hedge fund, Alameda Research. She also claimed that Bankman-Fried instructed her to withdraw FTX deposits for various purposes, including political donations and hiding losses. The defense attorney faced difficulties in his questioning, frequently changing topics and dates, and even apologizing for referencing the wrong document. The judge intervened multiple times, seeking clarity on the attorney's line of questioning. Bankman-Fried has pleaded not guilty to fraud charges.
Caroline Ellison, a star witness in the federal fraud trial of Sam Bankman-Fried, testified that Bankman-Fried directed her and others to engage in a multibillion-dollar fraud over several years. Ellison, the former CEO of Alameda Research and Bankman-Fried's ex-girlfriend, admitted to her employees that the decision to borrow funds from customers of their sister firm, FTX, was Bankman-Fried's. She also revealed that she felt trapped and wanted to be open and honest with her employees. Ellison's testimony shed light on the rise and fall of Bankman-Fried's crypto empire, and she has pleaded guilty to seven counts of fraud. Bankman-Fried's defense attorney sought to undermine her narrative, suggesting that her own decisions contributed to the collapse of Alameda. The defense has yet to present its case, but they have hinted that they will argue the alleged fraud was a series of honest business mistakes.
Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of FTX co-founder Sam Bankman-Fried, testified in court about their efforts to deceive lenders and customers in building his cryptocurrency empire. Ellison, who pleaded guilty to multiple charges, including wire fraud and money laundering, is cooperating with the prosecution's case against Bankman-Fried. During cross-examination, she revealed that she and another co-CEO handled Alameda's day-to-day operations, while Bankman-Fried became less involved. Ellison admitted to using FTX customer funds to pay Alameda's loans, allegedly at Bankman-Fried's suggestion. She also mentioned that Bankman-Fried had discussed adding a new co-CEO, but she resisted.
Caroline Ellison, former co-chief executive of Alameda Research, faced cross-examination at the trial of Sam Bankman-Fried, the former CEO of FTX, who is facing fraud charges over the collapse of the bankrupt cryptocurrency exchange. Ellison testified that the hedge fund took $10 billion in FTX customer funds to repay debts and make investments. Bankman-Fried's attorney questioned Ellison about the internal account FTX used to denote customer funds. Prosecutors allege that Bankman-Fried plundered billions in customer funds to prop up Alameda, buy real estate, and donate to political campaigns. Ellison is one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud charges and agreed to cooperate with prosecutors.
Caroline Ellison, the star witness in the criminal trial of Sam Bankman-Fried, testified that Bankman-Fried directed her to commit fraud and steal $10 billion from FTX's customers to repay loans. Ellison, Bankman-Fried's ex-girlfriend and former CEO of Alameda Research, testified under a plea deal with the government after pleading guilty to fraud charges. Bankman-Fried, a former crypto titan, is facing federal charges including wire fraud, securities fraud, and money laundering. His defense attorneys are cross-examining Ellison, who is at the center of the prosecution's case, in an attempt to challenge her credibility.
Caroline Ellison, a former top adviser to cryptocurrency mogul Sam Bankman-Fried, testified in court that she had lied and circulated "dishonest" financial documents at his request, misleading lenders and the public about his businesses. Ellison, who dated Bankman-Fried on and off for years, pleaded guilty to fraud and conspiracy and is cooperating with prosecutors. Bankman-Fried is on trial for orchestrating a scheme to defraud lenders and steal billions of dollars from FTX customers. The trial has become a focal point for examining high-risk practices in the crypto industry.
Caroline Ellison, the star witness in the trial against Sam Bankman-Fried, testified about the alleged criminal activities within the crypto empire they helped build. Ellison described how she distributed dishonest balance sheets to lenders, concealing billions of dollars in funds siphoned from FTX customer accounts. Prosecutors claim that Bankman-Fried stole billions of dollars in FTX customer funds to cover losses and enrich himself and others. Ellison's testimony revealed that Bankman-Fried actively oversaw both Alameda Research and FTX, and that he ordered his inner circle to engage in criminal activity. Bankman-Fried, who pleaded not guilty, could face 110 years in prison if convicted.
Caroline Ellison, the ex-girlfriend of crypto titan Sam Bankman-Fried, testified in court accusing him of directing her to commit crimes related to the disappearance of $8 billion from his bankrupt cryptocurrency exchange, FTX. Ellison also revealed that their relationship ended due to Bankman-Fried's emotional distance and lack of attention. She pleaded guilty to her role in the scheme and is testifying in hopes of receiving a more lenient sentence. Other former FTX insiders have also testified against Bankman-Fried, including Gary Wang, who stated that Bankman-Fried directed him to write code allowing the withdrawal of unlimited FTX user funds.