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.

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

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

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 faced a potential maximum sentence of 110 years in prison for her crimes.

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

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.

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.  

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

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