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FTX fraudster Caroline Ellison sentenced to 2 years in prison, ordered to forfeit $11 billion
CNBC (Business News) ^ | 24 September 2024 | M. Sigalos, D. Mangan, D. Giel

Posted on 09/25/2024 5:48:33 AM PDT by zeestephen

Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried...Judge Lewis Kaplan said a "literal get-out-of-jail-free card I can't agree to" as he sentenced Ellison while praising her extensive cooperation...The prison term was significantly stiffer than the recommendation by the federal Probation Department...FTX was once valued at $32 billion.

(Excerpt) Read more at cnbc.com ...


TOPICS: News/Current Events
KEYWORDS: bitcoin; caroline; carolineellison; cryptocurrency; ftx; lewiskaplan; sambankmanfried; sbf
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To: T.B. Yoits

According to the article, it is profit from her stock investment in an AI company not affiliated with her criminal enterprise.


21 posted on 09/25/2024 6:26:14 AM PDT by bigfootbob (Arm Up and Live Free!)
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To: Owen

The story said her boyfriend has to fork over that money. Decided what she has to pay yet.


22 posted on 09/25/2024 6:30:02 AM PDT by roving (Deplorable Erectionists Listless Vessel )
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To: Owen

Your last question is a good one, the article if you read it tells where the 11 Large is coming from, but it does not address the total worth of her investments.

I wonder how much side hustle investments like this Bankman Fried has stashed away?


23 posted on 09/25/2024 6:31:28 AM PDT by bigfootbob (Arm Up and Live Free!)
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To: zeestephen

How many $ billions did she get to keep?


24 posted on 09/25/2024 6:36:29 AM PDT by UnwashedPeasant (The pandemic we suffer from is not COVID. It is Marxist Democrat Leftism. )
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To: bigfootbob
The contraband and the money are never kept together. Much like the buyer paying one guy for the drugs but getting the merchandise from another guy, the AI "investment" company is the money drop.

She pleaded guilty to conspiracy to commit money laundering. For whom? That $11B wasn't hers. Whose was it?

Like I posted, it wasn't the cartels because they'd have that back. Who else is laundering $11B? Most likely government, specifically the U.S. government.

25 posted on 09/25/2024 6:37:03 AM PDT by T.B. Yoits
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To: BansheeBill

She was the prosecution’s star witness vs. Bankman-Fried. The judge said her cooperation was not going to be her “get-out-of-jail-free card” in deciding her punishment. Still, she got off pretty light. And the $11 fine — if it’s paid — will be paid with other people’s shekels.


26 posted on 09/25/2024 6:40:49 AM PDT by Blurb2350 (posted from my 1500-watt blow dryer)
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To: zeestephen

She turned on her buddies and testified against them and still gets nailed to the wall? So much for cooperating. IF her net worth before arrest was $15 million, how in Sam Hill is she supposed to ‘forfeit’ $11 billion? Am I missing something here? [Despite her position Ellison received no equity in Alameda Research and only a 0.5% stake in FTX. - wiki. From the article, her $10 million stake in startup Anthropic seems to already be lost to other settlements]


27 posted on 09/25/2024 6:41:29 AM PDT by blueplum ("...this moment is your moment: it belongs to you... " President Donald J. Trump, Jan 20, 2017) )
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To: blueplum

Her dear old dad is either the third or fifth wealthiest man in the world, depending on whom you ask. He may wind up picking up the tab, assuming it gets paid at all. These financial swindler types are pretty good at keeping and hiding their ill-got gains.


28 posted on 09/25/2024 6:51:56 AM PDT by Blurb2350 (posted from my 1500-watt blow dryer)
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To: BansheeBill
Re: "Get out of jail free card..."

She asked for no prison time based on her full cooperation.

The Judge said no.

29 posted on 09/25/2024 7:11:02 AM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: bigfootbob

I’m betting quite a lot.


30 posted on 09/25/2024 7:13:14 AM PDT by leaning conservative (snow coming, school cancelled, yayyyyyyyyy!!!!!!)
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To: Blurb2350

She is Larry Ellison’s - of Oracle - daughter?


31 posted on 09/25/2024 7:13:49 AM PDT by Rummyfan ( In any war between the civilized man and the savage, support the civilized man.)
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To: blueplum

She will end up doing the two years at some minimal security prison. Similar to where Martha Stewart went. A place where they wear an ankle monitor and have to work in the laundry.

I would be surprised IF it was Danbury, CT. That is where they send a lot of woman drug dealers(or the Ho’s of drug dealers).

She is not a dangerous criminal. Her cellmate will be in for mail fraud or some other white collar crime.

She will be out in 18 months. Maybe she will make “a friend”
inside.


32 posted on 09/25/2024 7:19:20 AM PDT by woodbutcher1963
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To: T.B. Yoits

I would have thought it was pilfered Bitcoin wallets, except, I believe the owners said they wanted it invested in the short term, so they cashed it out and gave it to Sam and her to utilize, without guarantees of security…


33 posted on 09/25/2024 7:22:45 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: Owen
Re: "Where is the $11 billion?"

Sam Bankman-Fried used client funds to speculate in the Crypto markets, speculation conducted by the trading firm that Caroline Ellison managed.

Sam Bankman-Fried had huge multi-billion dollar trading losses.

After that, Bankman-Fried and Ellison spent the next year playing hide-and-seek with client money that no longer existed.

34 posted on 09/25/2024 7:25:36 AM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: woodbutcher1963

“ She will be out in 18 months.”

There’s no parole in the Federal system.

L


35 posted on 09/25/2024 7:25:48 AM PDT by Lurker ( Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: OldHarbor

LOL!!


36 posted on 09/25/2024 7:29:59 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: Blurb2350

Her dad is a professor.

Where did you find out he is a billionaire?


37 posted on 09/25/2024 7:32:24 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: zeestephen

But then why the sentence of $11B disgorgement? If it doesn’t exist anymore, what is the point?


38 posted on 09/25/2024 7:33:17 AM PDT by Owen
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To: DesertRhino

Divorce court


39 posted on 09/25/2024 7:34:00 AM PDT by Varsity Flight ( "War by 🙏 the prophesies set before you." I Timothy 1:18. Nazarite warriors. 10.5.6.5 These Days)
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To: Gaffer
THAT! is one UGLY chick. I am amazed that this is/was Friedman’s GF.

I am amazed also. You’d think that with his money, he could have gotten a hot blonde pretty easily.

40 posted on 09/25/2024 7:39:35 AM PDT by IndyTiger
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