Former Alameda CEO Caroline Ellison was released from federal prison early on Wednesday, having served 14 months of her original 2-year sentence. Ellison pleaded guilty to seven charges for her part in ex-boyfriend and FTX founder Sam Bankman-Fried’s fraud conspiracy. The executives at the two companies used customer funds for risky investments and personal gain and lied to investors about the companies’ health. Ellison served as a key prosecution witness in the case against Bankman-Fried, leading to his 25-year prison sentence. Ellison was released from a minimal security federal facility early, only 440 days into her sentence, due to reports of good behavior. She will initially be released into a residential reentry facility in New York. However, authorities will continue to restrict her business activity, as the ex-CEO will not be allowed to serve as an officer or director of a public company or a cryptocurrency exchange for the next decade.
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