Caroline Ellison begins 2-year sentence for her role in Bankman-Fried’s FTX fraud

DANBURY, Conn. (AP) — A former top executive in Sam Bankman-Fried’s fallen FTX cryptocurrency empire has begun her two-year prison sentence. The Federal Bureau of Prisons says Caroline Ellison reported Thursday to the federal prison in Danbury, Connecticut. She had pleaded guilty for her role in a massive fraud that cost investors, lenders and customers billions of dollars. She also testified extensively against former boyfriend Bankman-Fried. He was sentenced to 25 years in prison. Both the judge and prosecutors said Ellison deserved credit for her cooperation. She tearfully apologized at her sentencing hearing in New York in September and said she was “deeply ashamed.”