Former Alameda Research CEO Caroline Ellison, sentenced to two years in prison for her role in the misuse of clients’ funds at cryptocurrency exchange FTX, will be released in a matter of weeks following an update from US federal authorities.
As of Wednesday, Ellison’s release from federal custody will be Jan. 21, according to information provided by the Federal Bureau of Prisons. The former Alameda CEO was transferred out of prison in October and relocated to a Residential Reentry Management field office in New York City, where she had been expected to remain until Feb. 20, her initially announced release date.
Source: Federal Bureau of PrisonsThe reason for the truncated four-week timeline for Ellison’s release was not publicly specified. However, many federal inmates are eligible for good-conduct credits and reentry programs.
Ellison became a public figure after joining Alameda Research as co-CEO and later sole CEO, joining Sam “SBF” Bankman-Fried’s crypto ventures and briefly dating the former FTX CEO. When FTX collapsed in November 2022, Ellison and others were indicted on charges of fraud and money laundering.
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Ellison, along with former FTX executives Gary Wang and Nishad Singh, testified against Bankman-Fried at trial and accepted plea deals for their cooperation. Bankman-Fried was later convicted and sentenced to 25 years in prison, while Wang and Singh were given time served.
SBF will continue to spend the holiday season in prison while awaiting the outcome of an appeal for his conviction and sentence. Barring legal intervention, he is expected to be released in September 2044.
Ryan Salame, the co-CEO of FTX Digital Markets, who also pleaded guilty but did not testify at Bankman-Fried’s trial, was sentenced to seven-and-a-half years in prison in 2024. He is scheduled for release in 2030.
SEC confirms ex-FTX executives are barred from leadership roles
Though Ellison may be released from federal custody soon, she will not be able to resume any business leadership position for years, following an agreement with regulators. According to a Friday notice from the US Securities and Exchange Commission, Ellison consented to a 10-year officer-and-director bar, preventing her from assuming any leadership role at a cryptocurrency exchange or other business.
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Source: https://cointelegraph.com/news/merry-christmas-caroline-ellison-release?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
