Alameda Research CEO Caroline Ellison’s Prison Release Date Moved Up

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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November 29, 2024 11:39 EST

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Former Alameda Research CEO Caroline Ellison’s prison release date has been moved up just three weeks after the one-time girlfriend of FTX founder Sam Bankman-Fried reported to prison for her role in the multi-billion dollar crypto scandal, Federal Bureau of Prisons records seen by Business Insider this week reveal.

Alameda Research CEO Caroline Ellison’s Prison Release Moved

Ellison, who is currently incarcerated at the Danbury Federal Correctional Institution in Connecticut, was sentenced to two years behind bars by Judge Lewis A. Kaplan on September 24.

However, records reviewed by Business Insider reportedly show that Ellison’s time in prison is set to conclude on July 20, 2026 – just one year and seven months from her start date.

The ex-Alameda Research CEO has likely taken advantage of sentencing reduction during her time in the federal correction center, though this is unconfirmed.

Sam Bankman-Fried Associates Evade Jail Time

News of Ellison’s diminished sentence follows two recent sentencings of previous fellow associates of Bankman-Fried stemming from criminal charges connected to their roles in the digital asset scheme.

Ex-FTX chief technology officer Gary Wang and head of engineering Nishad Singh were both spared prison time when they were sentenced to time served and ordered pay a multi-billion dollar penalty this fall for participating in the fraud scheme that saw more than $8 billion wiped from investors of the doomed crypto exchange.

Wang, Singh and Ellison all testified against their former boss during Bankman-Fried’s landmark October 2023 trial, with Ellison largely considered the prosecution’s star witness.

The FTX founder was found guilty on all counts last November and sentenced to 25 years behind bars.

Meanwhile, former FTX Digital Markets CEO Ryan Salame is currently spending seven years at a federal facility in Cumberland, Maryland after pleading guilty in May to violating campaign finance laws and operating an unlicensed money transmitter business. He refused to testify against Bankman-Fried.

U.S. prosecutors alleged that Salame operated a straw donor scheme while leading the crypto echxchange’s Bahamian subsidiary, partially in benefit of his partner – then-Congressional hopeful Michelle Bond.

Bond has since been indicted on a criminal charge herself from the incident, with Salame accusing U.S. prosecutors of falsely agreeing to not investigate the mother of his child should he plead guilty.

“The government hands get out of jail free cards if you parrot the narrative they want and everyone who would provide any counterpoint is frightened,” Salame told journalist Tucker Carlson in a recent interview.