TechFlow reported on September 11, according to The Block, that former Alameda Research co-CEO Caroline Ellison will be sentenced in a New York court on September 24, 2024. Ellison, who was formerly in a relationship with ex-FTX CEO Sam Bankman-Fried, pleaded guilty in December 2022 to her role in the collapse of the FTX exchange, which led to billions of dollars in losses for customers.
Ellison faces charges including two counts of conspiracy to commit wire fraud, two counts of actual wire fraud, and one count of conspiracy to commit money laundering, carrying a maximum sentence of up to 110 years in prison. However, due to her cooperation with prosecutors, her actual sentence may be significantly reduced. Other former FTX executives, Gary Wang and Nishad Singh, also face charges but have similarly chosen to cooperate with prosecutors. Wang's sentencing is scheduled for November 20, while Singh's is set for October 30. Notably, Bankman-Fried was sentenced in March this year to nearly 25 years in prison and has been ordered to pay restitution of up to $11 billion to investors and lenders.
