Cryptocurrency Fraud Archives

Former FTX executive Caroline Ellison gets two years in prison over fraud

NEW YORK (AP) — A former top executive in Sam Bankman-Fried’s fallen FTX cryptocurrency empire has been sentenced to two years in prison for participating in what a prosecutor said was one of the largest recent financial frauds in U.S. history. Federal Judge Lewis A. Kaplan praised Caroline Ellison’s cooperation but said it could not be a get-out-of-jail-free card. Prosecutors said she deserved leniency for her “extraordinary cooperation.” Ellison is 29. She pleaded guilty nearly two years ago and testified against Bankman-Fried at a trial. Bankman-Fried was convicted of fraud and sentenced to 25 years in prison. FTX was one of the world’s most popular cryptocurrency exchanges before it collapsed in 2022.… Continue Reading

On jury duty, David Letterman auditioned for a role he’s never gotten

NEW YORK (AP) — The longtime host of “The Late Show with David Letterman” made it to the final cuts before getting knocked off a jury about to hear a criminal trial involving cryptocurrency. Letterman, who stepped down from his show in 2015, was serving a stint on jury duty in Manhattan federal court Monday and came close to being picked for the first time for a jury. It was at the trial of a man charged with participating in a cryptocurrency fraud that caused over $10 million in losses to more than 20 victims. Letterman made it to a final round before being excused from the jury late in the day.… Continue Reading