Posts

Showing posts with the label alameda

CHART: Everyone sentenced from FTX and Alameda

The latest FTX-related sentencing saw Caroline Ellison, the former co-CEO of Alameda Research, handed two years behind bars for her role in the exchange’s spectacular collapse. Ellison is expected to be in prison by November 7. Ellison’s sentence was so lenient thanks to her lending the investigation her full cooperation. Indeed, the judge presiding over the case noted that he hadn’t seen a cooperator “quite like Ms. Ellison.” However, he also made it clear that due to the severity of the case, remorse and cooperation aren’t a complete “get out of jail free card.”  She had pleaded guilty to seven counts of fraud and conspiracy and became the third individual involved in FTX’s crimes to be jailed.  Here’s a chart of every indicted FTX and Alameda official sentenced, or waiting to be sentenced.  Caroline Ellison sentenced to two years for FTX-Alameda fraud Read more: Which FTX and Alameda executives are going to prison and when? Collectively, Sam Bankman-Fried, Ryan ...

Sam Bankman-Fried sentenced to 25 years in prison

Sam Bankman-Fried, the former chief exec of FTX and owner of Alameda Research, has been sentenced to 25 years in prison today, according to reporting from Inner City Press.  This sentence comes after a jury found him guilty of multiple felony offenses, including wire fraud, conspiracy to commit fraud, and money laundering conspiracy. Both FTX and Alameda Research declared bankruptcy following the misappropriation of billions of dollars of funds by Bankman-Fried and his co-conspirators.  Bankman-Fried’s defense has claimed that the losses from these collapsed firms should not be considered, stating that the bankruptcy was likely to have a full recovery. Current FTX CEO John J. Ray III said this was “categorically, callously, and demonstrably false.”  Inner City Press reported that Judge Kaplan agreed with Ray’s characterization, claiming the defense’s argument was misleading .  Judge Kaplan: I reject the defense's argument about loss, both ...