Caroline Ellison was sentenced to two years in prison for her involvement in the fraud.

Ellison was sentenced for her role in a massive financial fraud, which involved the misappropriation of $8 billion in customer funds from FTX, the cryptocurrency exchange founded by Sam Bankman-Fried.  

Yes, Ellison could be released a few months earlier than her two-year sentence if she exhibits good behavior in prison.

Ellison’s testimony was crucial in the conviction of Sam Bankman-Fried, as she provided detailed accounts of how he directed her and others to misappropriate FTX customer funds.

Sam Bankman-Fried was convicted of multiple fraud charges related to the collapse of FTX and is serving a 25-year prison sentence. He is currently appealing the conviction and sentence.

Besides Ellison, Nishad Singh and Gary Wang, two other former FTX executives who cooperated with prosecutors, are awaiting sentencing in October and November, respectively.

At the peak of his career during the cryptocurrency boom, Sam Bankman-Fried’s net worth was estimated at $26 billion according to Forbes.