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Former Alameda Co-CEO Caroline Ellison Faces Sentencing Amid FTX Collapse

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BlockBeats reported that Caroline Ellison, the former co-CEO of Alameda, will face sentencing in a New York court on September 24. Caroline, who is known as the ex-girlfriend of Sam Bankman-Fried, the former CEO of FTX, entered a guilty plea in December 2022 following the collapse of FTX which resulted in significant financial losses for consumers.

Caroline is confronting fraud allegations, including two counts of conspiracy to commit wire fraud, two counts of wire fraud, and one count of conspiracy to commit money laundering. These charges carry a potential prison term of up to 110 years; however, due to Caroline’s cooperation with authorities, her sentence is expected to be mitigated.

Former FTX executives, Gary Wang and Nishad Singh, were also implicated in the case but have decided to collaborate with prosecutors. Gary Wang is set to be sentenced on Nov. 20, while Singh’s sentencing is scheduled for Oct. 30.

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