Ex-Alameda Research CEO Caroline Ellison Sentenced to Two Years for $11 Billion FTX Fraud Scheme

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At Bankman-Fried’s trial, Ellison did not shy away from discussing the intricacies of the fraudulent activities and her complicated relationship with her former boss. 

She openly testified about how their secret romantic relationship added stress to both her personal and professional life.

 In a digital file included in her sentencing submission, she expressed how her emotions were tied to her relationship with Bankman-Fried. “I think when Sam and I are sleeping together, or are in ‘flirty mode,’ I feel better about work and life, and don’t have the same negative spirals,” she wrote.

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Despite her remorse, Ellison acknowledged that she played a significant role in misleading lenders and deceiving customers about the company’s financial health, contributing to one of the largest financial scandals in cryptocurrency history.