🔥 Caroline Ellison to Lose It All: The High Price of Cooperation
posted 9 Oct 2024
Former Alameda Research CEO Caroline Ellison is surrendering everything she owns to leave the FTX saga behind for good.
Closely tied to FTX founder Sam Bankman-Fried (SBF), Ellison has agreed to transfer all of her personal assets linked to the bankrupt company in an effort to avoid further legal battles and sever her ties with the fallen crypto empire.
Ellison was sentenced to two years in prison for her involvement in the large-scale financial fraud connected to FTX. She also serves as a key witness against her former boyfriend, SBF, in exchange for significant leniency. However, to fully make amends, she has agreed to give up most of her personal wealth.
This settlement will help FTX, now led by bankruptcy manager John J. Ray III, recover some of the losses suffered by creditors. The court has already approved a payout plan for FTX clients who had their funds frozen on the platform.
Ellison Loses Everything She Earned. Source: Cryptopolitan
According to FTX, after the settlement, Ellison will be left with virtually nothing except for some personal belongings. This underscores the gravity of her involvement in the fraud and her determination to rebuild her reputation.
After two years in prison, Ellison will be starting from scratch, with nothing left. As the saying goes: "She leaves with what she came with."
Related: FTX Payouts: What to Expect?
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