Caroline Ellison gets 2 years for covering up Sam Bankman-Fried’s FTX fraud
Enlarge / Caroline Ellison, former chief executive officer of Alameda Research LLC, was sentenced Tuesday for helping Sam Bankman-Fried cover up FTX's fraudulent misuse of customer funds. (credit: Bloomberg / Contributor | Bloomberg)
Caroline Ellison was sentenced Tuesday to 24 months for her role in covering up Sam Bankman-Fried's rampant fraud at FTX-which caused billions in customer losses.
Addressing the judge at sentencing, Ellison started out by explaining "how sorry I am" for concealing FTX's lies, Bloomberg reported live from the hearing.
"I participated in a criminal conspiracy that ultimately stole billions of dollars from people who entrusted their money with us," Ellison reportedly said while sniffling. "The human brain is truly bad at understanding big numbers," she added, and "not a day goes by" that she doesn't "think about all of the people I hurt."