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

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.

U.S. District Judge Lewis Kaplan acknowledged that Ellison was “gravely culpable” in the fraud but also recognized her “remarkable cooperation,” which distinguished her from Bankman-Fried.

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.  

Ellison’s sentence was reduced due to her significant cooperation with the authorities, which was instrumental in securing Bankman-Fried’s conviction. Prosecutors recommended leniency because of her honest and full cooperation.

Ellison pleaded guilty to seven felony counts, including fraud and conspiracy.

Ellison is scheduled to begin her prison sentence in November, and she is expected to serve her time in a minimum-security facility.

Yes, Ellison cooperated extensively with prosecutors, meeting with them around 20 times and testifying against Sam Bankman-Fried during his trial.

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