Former FTX cryptocurrency executive sentenced to two years in prison for fraud

Caroline Ellison, former chief executive of Alameda Research founded by Sam Bankman-Fried, goes into a wrong car as she exits the Manhattan federal court after giving evidence in New York (Eduardo Munoz Alvarez/AP)

A former top executive in Sam Bankman-Fried’s fallen FTX cryptocurrency empire was sentenced to two years in prison after she apologised repeatedly to everyone hurt by a fraud that stole billions of dollars from US investors and customers.

US District Judge Lewis A Kaplan said Caroline Ellison’s co-operation in the case was “very, very substantial” and praised her testimony, saying he saw no inconsistencies with documents shown to the jury or things she had previously told prosecutors.