Caroline Ellison, the previous CEO of Alameda Research, is scheduled to be released from federal custody after serving 440 days of a two-year sentence.
According to Federal Bureau of Prisons inmate records, Ellison is predicted to be released from the Residential Reentry Management field office in New York City on Wednesday, greater than a yr after she reported to the prison in Danbury, Connecticut.
The former Alameda CEO was one in all three executives linked to the defunct cryptocurrency exchange FTX to serve prison time, together with former FTX CEO Sam “SBF” Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame.
Caroline Ellison's X-Profile. Source: Carolinecapital
After cryptocurrency exchange FTX collapsed in November 2022 amid reports of liquidity issues, Ellison, Bankman-Fried, Salame and executives Gary Wang and Nishad Singh were charged with fraud and money laundering. Alameda's CEO testified against Bankman-Fried in court and accepted a deal for her cooperation that resulted in a two-year prison sentence.
Ellison's release was originally scheduled for February, which might still have been well wanting her two-year sentence. However, many federal inmates are eligible for good conduct credits. In October, she was also apparently allowed to maneuver to a rehabilitation facility, where she served her final months in custody in New York City.
Cointelegraph reached out to Ellison's legal team, but a representative declined to comment.
Other FTX executives are still in prison or facing legal problems
Bankman-Fried, who was convicted of seven felonies related to his role in misusing FTX user funds, was sentenced to 25 years in prison and is scheduled to be released in 2044. Singh and Wang were sentenced to time served and remain at large, while Salame is scheduled to be released in 2030.
Bankman-Fried appealed his conviction and sentence and is awaiting the outcomes of the Nov. 4 hearing before the U.S. Court of Appeals for the Second Circuit.
Ellison and other former executives are barred from holding leadership roles at a cryptocurrency exchange or other company because of a consent judgment from the U.S. Securities and Exchange Commission. She has given no indication that she intends to resume a position within the crypto industry.
Ellison received a 10-year ban as an officer and director, while Wang and Singh each received an eight-year ban.
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