Caroline Ellison wrote a steamy Bridgerton-style romance novel as she waited to be taught her destiny for taking part within the multi-billion-dollar crypto fraud at FTX , her mother has revealed.
The MIT-educated Ellison had a tempestuous on-off relationship with FTX founder Sam Bankman-Fried and mused about experimenting with polyamory — after which famously turned state’s proof and gave damning proof in opposition to her ex.
“She has written an enthralling novella (set in Edwardian England and loosely based mostly on her sister Kate’s imagined amorous exploits, to Kate’s nice delight),” her mom Sara Fisher Ellison wrote in a letter asking the sentencing decide for leniency.
“She is engaged on one other novel, which now we have but to see,” the mom added.
The 29-year-old now has ample time to complete that follow-up — she was sentenced to 2 years in jail Tuesday for her position within the FTX disaster, which noticed billions of {dollars} value of cryptocurrency vanish in days in 2022.
Thought-about one of many largest monetary crimes in historical past, Ellison pleaded responsible to fraud the identical yr and agreed to cooperate with federal prosecutors.
That cooperation was instrumental in touchdown FTX founder — and her former lover — Bankman-Fried behind bars for 25 years.
After pleading responsible, Ellison was freed on $250,000 bail whereas she testified for the feds.
Some observers urged Ellison may keep away from jail fully for her cooperation. Nevertheless, on Tuesday, Decide Lewis Kaplan stated a jail sentence was wanted as a result of Ellison had participated in what is perhaps the “best monetary fraud ever perpetrated on this nation and possibly anyplace else.”
Kaplan stated he wouldn’t grant her a “get out of jail free card” regardless of Ellison’s “real” regret for her position within the brazen crime — through which Bankman-Fried stole billions of {dollars} of FTX consumer funds in 2022 to plug losses at his failing hedge fund.
Kaplan stated he wouldn’t grant her a “get out of jail free card” regardless of Ellison’s “real” regret for her position within the brazen crime — through which Bankman-Fried stole billions of {dollars} of FTX consumer funds in 2022 to plug losses at his failing hedge fund.
The decide additionally stated that Ellison was “weak” and was “exploited,” calling Bankman-Fried “your kryptonite.”
“Whilst you have been gravely culpable on this fraud, there is no such thing as a doubt that you just had outstanding cooperation,” Kaplan added. “That’s a basic distinction between you and Mr Bankman-Fried.”
Carrying a darkish grey blazer over a maroon gown, Ellison stood, her palms clasped collectively in entrance of her, because the decide delivered the sentence. She then tilted her head barely ahead.She was ordered to report back to jail on Nov. 7.
Along with penning racy prose as she whiled away the 2 years earlier than her sentencing, Ellison has additionally been volunteering as an English as a second language trainer, her mom wrote in her letter
“These duties usually are not efficiency to her. She cares about doing a very good job and cares in regards to the folks she helps. None of that is stunning to us, in fact, however we’re heartened by the truth that she is discovering a lot pleasure and achievement in immediately working to assist these in want,” she stated.
Ellison has additionally been contributing to a statistics textbook her father and a few colleagues are engaged on, the mom wrote.
“Caroline is a really gifted author,” she stated.
Through the sentencing, Kaplan acknowledged how useful Ellison was in Bankman-Fried’s trial was — however stated he couldn’t let her off the hook fully.
“To make it actually a get out of jail free card shouldn’t be one thing that I can my see my approach clear to,” Kaplan stated.
A Boston-area native and graduate of MIT, Ellison was the the CEO of Alameda Analysis, Bankman-Fried’s hedge fund that he used to make investments FTX traders’ funds.
Earlier than the plea deal, Ellison confronted as much as 110 years in jail for her half within the scheme.
She is because of begin her jail sentence on November 7.
