Caroline Ellison

Caroline Ellison
Born1994 (age 29–30)[1]
Boston, Massachusetts, U.S.[2]
Alma materStanford University (BS)
Known forFormer CEO of Alameda Research
Criminal statusIncarcerated
Parent(s)Glenn Ellison[3]
Sara Fisher Ellison[4]
Criminal chargeWire fraud
Money laundering
Conspiracy
PenaltyTwo years in prison

Caroline Ellison (born c. 1994) is an American business executive who was convicted of fraud in 2023 in relation to the bankruptcy of FTX. She was the CEO of Alameda Research, a trading firm affiliated with the FTX and founded by Sam Bankman-Fried.[5] Ellison was terminated from her position after FTX and Alameda filed for bankruptcy.[6] In 2022, Ellison pleaded guilty to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering.[7][8]

On September 24, 2024, Ellison, a key government witness in the collapse of cryptocurrency exchange FTX, was sentenced to two years in prison for her role in the scandal, which was one of the biggest in the history of the United States.[9][10] U.S. District Judge Lewis Kaplan called Ellison’s cooperation in the case against SBF "very, very substantial", but said prison time was necessary due to the magnitude of the crime.[11] According to an anonymous source cited by The Wall Street Journal in November 2022, Alameda Research owed $10 billion to FTX. The source said FTX had lent the trading firm money from customer funds at FTX.[12][13][5]

  1. ^ Gardizy, Anissa (6 December 2022). "Caroline Ellison, math whiz and Newton native, was bound for success. Then she got into crypto. - The Boston Globe". Boston Globe. Archived from the original on 28 December 2022. Retrieved 28 December 2022.
  2. ^ Cite error: The named reference Yahoo was invoked but never defined (see the help page).
  3. ^ "Former head of FTX is not SEC chair's daughter". AP NEWS. 18 November 2022. Archived from the original on 25 November 2022. Retrieved 25 November 2022.
  4. ^ Cite error: The named reference Business Insider Ellison Parents was invoked but never defined (see the help page).
  5. ^ a b Vicky Ge Huang; Alexander Osipovich; Patricia Kowsmann (11 November 2022). "FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall". The Wall Street Journal. ISSN 0099-9660. Wikidata Q115175398. Retrieved 12 November 2022.
  6. ^ Justin Baer; Hannah Miao (18 November 2022). "Bankrupt FTX Fires Three of Sam Bankman-Fried's Top Deputies". The Wall Street Journal. ISSN 0099-9660. Wikidata Q115288110. Retrieved 14 December 2022.
  7. ^ Goldstein, Matthew; Weiser, Benjamin (23 December 2022). "Alameda Executive Says She Is 'Truly Sorry' for Her Role in FTX Collapse". The New York Times. ISSN 0362-4331. Archived from the original on 30 December 2022. Retrieved 31 December 2022.
  8. ^ Katersky, Aaron. "Sam Bankman-Fried's ex-girlfriend, FTX co-founder plead guilty to criminal charges". ABC News. Archived from the original on 22 December 2022. Retrieved 22 December 2022.
  9. ^ "Caroline Ellison, government witness in FTX crypto scandal, gets 2 years in prison - UPI.com". UPI. Retrieved 25 September 2024.
  10. ^ Neumeister, Larry (24 September 2024). "Former FTX executive Caroline Ellison gets two years in prison over fraud". Associated Press. Retrieved 24 September 2024.
  11. ^ Mattson, Jennifer (24 September 2024). "Caroline Ellison, star witness in FTX crypto fraud trial that put SBF away for 25 years, is sentenced to 2 years in prison". Fast Company. Retrieved 24 September 2024.
  12. ^ Wang, Tracy (11 November 2022). "Sam Bankman-Fried's crypto empire 'was run by a gang of kids in the Bahamas'". Fortune. Archived from the original on 12 November 2022. Retrieved 12 November 2022.
  13. ^ Clark, Mitchell (10 November 2022). "FTX reportedly used $10 billion of customer funds to prop up its owner's trading firm". The Verge. Archived from the original on 12 November 2022. Retrieved 12 November 2022.