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Caroline Ellison sentenced to two years in jail in the FTX case. She if you remember, pledged guilty to seven felony accounts, a fraud and conspiracy in the wake of basically the undoing of Samuel bank Binfried and his FTX company, which really made everybody in the world, as we know we covered it day to day, but just really rethink kind of what was going when it comes to digital assets in crypto in particular.

Caroline Ellison sentenced to two years in jail in the FTX case. She if you remember, pledged guilty to seven felony accounts, a fraud and conspiracy in the wake of basically the undoing of Samuel bank Binfried and his FTX company, which really made everybody in the world, as we know we covered it day to day, but just really rethink kind of what was going when it comes to digital assets in crypto in particular.

Yeah, indeed, the Tea Life blog running on the terminal as well with the details of the sense thing hearing Carl Allison addressing the core talking about how sorry she was as well that she'd agreed to give up all the money that she gained from FTX according to her lawyer, and according to her lawyer, she'll never profit in the future for her role in this crime. As well. In her statement she talked about apologizing to lenders, investors, victims who lost money as a result of her actions, and everyone in her words that she lied to in the process of the FTX issues. One interesting quote, the human brains really bought at understanding big numbers, she said, and a day goes by, I don't think about all of the people that I heard that is Caroline Ellison being sentenced in New York described as being a cornerstone in the prosecution case against Sam Bankman freed and prosecutors have asked the judge to spare carl and Ellison from prison in.

Yeah, indeed, the Tea Life blog running on the terminal as well with the details of the sense thing hearing Carl Allison addressing the core talking about how sorry she was as well that she'd agreed to give up all the money that she gained from FTX according to her lawyer, and according to her lawyer, she'll never profit in the future for her role in this crime. As well. In her statement she talked about apologizing to lenders, investors, victims who lost money as a result of her actions, and everyone in her words that she lied to in the process of the FTX issues. One interesting quote, the human brains really bought at understanding big numbers, she said, and a day goes by, I don't think about all of the people that I heard that is Caroline Ellison being sentenced in New York described as being a cornerstone in the prosecution case against Sam Bankman freed and prosecutors have asked the judge to spare carl and Ellison from prison in.

That as well.

That as well.

Yeah, she'll also have to forfeit about eleven billion dollars as a result of this, So we're getting more details. She is sentenced to as we said the twenty four months and talking about her cooperation specifically, the judge did say that she was by no means free of culpability, So again something we covered from day to day for a long time, but just seeing certainly as a result some of the sentences.

Yeah, she'll also have to forfeit about eleven billion dollars as a result of this, So we're getting more details. She is sentenced to as we said the twenty four months and talking about her cooperation specifically, the judge did say that she was by no means free of culpability, So again something we covered from day to day for a long time, but just seeing certainly as a result some of the sentences.

And look, they'll also be looking more closely now the sensing of other cooperators in this case as well, Gary Wang and Nishad Singing as well. Perhaps this may indicate that they may also get jail time. We know if the prosecutes have asked her to spare from a prison sentence, but she is now being sentenced to two years at a minimum security facility as well, and the judge did praise Allison profusely said that in this case, this series, there cannot be a get out of jail free card. So we are talking about Carl and Alison being sentenced over the collapse of FTX, and that hearing happening right now. We're just showing you some pictures of her leaving course of course during the trial, as we have been covering in detail of the collapse of that company and the consequences that have been for sam Banguin Freed and for others.

And look, they'll also be looking more closely now the sensing of other cooperators in this case as well, Gary Wang and Nishad Singing as well. Perhaps this may indicate that they may also get jail time. We know if the prosecutes have asked her to spare from a prison sentence, but she is now being sentenced to two years at a minimum security facility as well, and the judge did praise Allison profusely said that in this case, this series, there cannot be a get out of jail free card. So we are talking about Carl and Alison being sentenced over the collapse of FTX, and that hearing happening right now. We're just showing you some pictures of her leaving course of course during the trial, as we have been covering in detail of the collapse of that company and the consequences that have been for sam Banguin Freed and for others.

Well, we should remind everybody right she was the former CEO of Alimeter Research and that was the trading from that was affiliated with FTX, specifically the cryptocurrency exchange, which was founded by Samuel Makmin Freed, and then of course we know came to its undoing in twenty twenty two, so we're also talking about two years ago, or roughly two years ago, she pled guilty to fraud, money laundering, conspiracy charges related to her role specifically at Alameda Research. So again we know FTX Alamedia they off out for bankruptcy and it was really that case that undoing. Here was an individual who was seen as the JP Morgan, if you will, of the crypto world, and so many people followed him, respected him. He was the go to when it comes or when it came to cryptocurrencies, and of course the undoing made everybody look very differently at the crypto world, and we think about what kind of oversight was necessary.

Well, we should remind everybody right she was the former CEO of Alimeter Research and that was the trading from that was affiliated with FTX, specifically the cryptocurrency exchange, which was founded by Samuel Makmin Freed, and then of course we know came to its undoing in twenty twenty two, so we're also talking about two years ago, or roughly two years ago, she pled guilty to fraud, money laundering, conspiracy charges related to her role specifically at Alameda Research. So again we know FTX Alamedia they off out for bankruptcy and it was really that case that undoing. Here was an individual who was seen as the JP Morgan, if you will, of the crypto world, and so many people followed him, respected him. He was the go to when it comes or when it came to cryptocurrencies, and of course the undoing made everybody look very differently at the crypto world, and we think about what kind of oversight was necessary.

Indeed, and look, I mean, this issue for getting jail time is something that keep coming back to as well, because the expectation had been that she wouldn't receive jail time, and our colleagues pointing to the fact that the judge made a comment that he couldn't remember when Caroline Nelson had been even slightly inconsistent in her testimony during this trial, think about how that contrast was sort of commentary that we heard around testimony from SBF as well from San Bankment Freed as well during his trial as well, which there had been frequent criticism from the judge obviously inconsistencies in his testimony and at one point that that was something where they had to be extensive hearings without the presence of the jury because of the issues with the testimony from sein Brand bin Fried and the fact that there was such a big contrast and how the judge of described carlais and makes the sentencing here very noteworthy.

Indeed, and look, I mean, this issue for getting jail time is something that keep coming back to as well, because the expectation had been that she wouldn't receive jail time, and our colleagues pointing to the fact that the judge made a comment that he couldn't remember when Caroline Nelson had been even slightly inconsistent in her testimony during this trial, think about how that contrast was sort of commentary that we heard around testimony from SBF as well from San Bankment Freed as well during his trial as well, which there had been frequent criticism from the judge obviously inconsistencies in his testimony and at one point that that was something where they had to be extensive hearings without the presence of the jury because of the issues with the testimony from sein Brand bin Fried and the fact that there was such a big contrast and how the judge of described carlais and makes the sentencing here very noteworthy.

All Right, just to rehash, Caroline Ellison sentenced to twenty four months prison ordered to forfeit eleven billion dollars by a federal judge for her role in the FTX collapse. And this was despite helping prosecutors in the conviction of Sam Bankman Freed, which of course was her former boss but also her former boyfriend. So let's get to Bloomberg News. Bloomberg News. Excuse me, Legal Alliston, host of Bloomberg Law on Bloomberg Radio. Jim Rosso is with us back at New York headquarters for Bloomberg. So June two years. First of all, fair sentence. Where was this in terms of what she was facing.

All Right, just to rehash, Caroline Ellison sentenced to twenty four months prison ordered to forfeit eleven billion dollars by a federal judge for her role in the FTX collapse. And this was despite helping prosecutors in the conviction of Sam Bankman Freed, which of course was her former boss but also her former boyfriend. So let's get to Bloomberg News. Bloomberg News. Excuse me, Legal Alliston, host of Bloomberg Law on Bloomberg Radio. Jim Rosso is with us back at New York headquarters for Bloomberg. So June two years. First of all, fair sentence. Where was this in terms of what she was facing.

Well, it's very low compared to what she was facing. And you know, the judge kept comparing her cooperation to what happened with Sam Bankman Freed. He said he's never seen a cooperating witness like this. There wasn't any inconsistencies in her testimony, but that still she commit a crime here and that you know, there has to be some kind of punishment. You know. What's unusual is the Probation Department did not ask for any time, and the prosecutors didn't ask for any time, So the judge has to balance that and the fact that you want to encourage people to come forward even if they're guilty, to later testify, and that she exposed this whole thing, so he brought that out a lot, but he still wanted to send a message that you know, you can't get away with this, so he balanced that out. Now, Sam Beckman free got twenty five years, so compared to that, she only got two years. It seems I would consider it pretty lenient, although there was a possibility that she would get no time.

Well, it's very low compared to what she was facing. And you know, the judge kept comparing her cooperation to what happened with Sam Bankman Freed. He said he's never seen a cooperating witness like this. There wasn't any inconsistencies in her testimony, but that still she commit a crime here and that you know, there has to be some kind of punishment. You know. What's unusual is the Probation Department did not ask for any time, and the prosecutors didn't ask for any time, So the judge has to balance that and the fact that you want to encourage people to come forward even if they're guilty, to later testify, and that she exposed this whole thing, so he brought that out a lot, but he still wanted to send a message that you know, you can't get away with this, so he balanced that out. Now, Sam Beckman free got twenty five years, so compared to that, she only got two years. It seems I would consider it pretty lenient, although there was a possibility that she would get no time.

What should we be thinking about them when think about the other sentencing that we're still waiting for over the collapse of FTX. What could that mean then for their prospects?

What should we be thinking about them when think about the other sentencing that we're still waiting for over the collapse of FTX. What could that mean then for their prospects?

Well, I think it probably means that they're going to get some kind of a minimal sentence. She was the star witness and she was the one who came forward for and, you know, help the prosecutors to unveil the conspiracy, and the judge even took out some spreadsheets that had helped the prosecutors in the case. So they will probably get I probably a light sentence, but I don't know if it'll be as light as two years. So we'll have to see that. There are two more cooperators, but none of them she was the star witness. It was obvious that she was the star witness. So I don't know if they're going to get as you know, as low a sentence as she did. And I say as low a sentence because you know, she really was facing you know, ten twenty years if you'd gone by the guidelines. So as Sam bankmin Freed was sentenced to twenty five years, and you know, the judge took account of her cooperation, and the prosecutors also mentioned. It seemed like everybody was talking about the same thing, how she helped the prosecution so much by cooperating, but so that it was a little bit of a surprise because the judge was talking about her cooper then all of a sudden bam. But you know, he said you did commit a crime, and then he said that you have to serve time for that. I had thought it maybe he might even let her off without any sentence from the way he was going, but he was just laying a foundation, I think, so he could explain himself.

Well, I think it probably means that they're going to get some kind of a minimal sentence. She was the star witness and she was the one who came forward for and, you know, help the prosecutors to unveil the conspiracy, and the judge even took out some spreadsheets that had helped the prosecutors in the case. So they will probably get I probably a light sentence, but I don't know if it'll be as light as two years. So we'll have to see that. There are two more cooperators, but none of them she was the star witness. It was obvious that she was the star witness. So I don't know if they're going to get as you know, as low a sentence as she did. And I say as low a sentence because you know, she really was facing you know, ten twenty years if you'd gone by the guidelines. So as Sam bankmin Freed was sentenced to twenty five years, and you know, the judge took account of her cooperation, and the prosecutors also mentioned. It seemed like everybody was talking about the same thing, how she helped the prosecution so much by cooperating, but so that it was a little bit of a surprise because the judge was talking about her cooper then all of a sudden bam. But you know, he said you did commit a crime, and then he said that you have to serve time for that. I had thought it maybe he might even let her off without any sentence from the way he was going, but he was just laying a foundation, I think, so he could explain himself.

Hey, jan one last question that eleven billion dollars that she has to forfeit. How do we explain that or what specifically does that denote.

Hey, jan one last question that eleven billion dollars that she has to forfeit. How do we explain that or what specifically does that denote.

It seems awfully high to me, and that's something that I was just talking to someone about. I have to go and look into it because it seems an awfully high number. I didn't think that she had gotten eleven billion dollars from this, because I know some of the other cooperators who had you know, had homes and things. It was in the millions, not the billions. So that seems high. I really have to look into it. I think it's it's rather high. She has to of course, she has to disgorge it. It's you know, you would expect that the judge ruled it, but you would expect that if she didn't, the prosecution would come after her. That should go back to the victim. So that's not surprising. But the number is surprising to me, and I have to really look into where it came from.

It seems awfully high to me, and that's something that I was just talking to someone about. I have to go and look into it because it seems an awfully high number. I didn't think that she had gotten eleven billion dollars from this, because I know some of the other cooperators who had you know, had homes and things. It was in the millions, not the billions. So that seems high. I really have to look into it. I think it's it's rather high. She has to of course, she has to disgorge it. It's you know, you would expect that the judge ruled it, but you would expect that if she didn't, the prosecution would come after her. That should go back to the victim. So that's not surprising. But the number is surprising to me, and I have to really look into where it came from.

Yeah, that number kind of struck me as well. And I know it was a red headline certainly on the Bloomberg. All right, we're going to leave it on that note. Hey, June, thank you so much. Of course, our legal analyst here at Bloomberg News and a host of Bloomberg Law on Bloomberg Radius, so should be sure to catch her a little bit later on today on the latest really of the FTX saga.

Yeah, that number kind of struck me as well. And I know it was a red headline certainly on the Bloomberg. All right, we're going to leave it on that note. Hey, June, thank you so much. Of course, our legal analyst here at Bloomberg News and a host of Bloomberg Law on Bloomberg Radius, so should be sure to catch her a little bit later on today on the latest really of the FTX saga.

Yeah, fascinating that headline. Carlon Alison Salad sentenced for two years in her role of the collapse of FTX.

Yeah, fascinating that headline. Carlon Alison Salad sentenced for two years in her role of the collapse of FTX.