Former Alameda Research CEO Caroline Ellison reported to prison to begin serving a two-year sentence for her role in the FTX fraud case

DANBURY, Conn. -- Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, began her two-year prison sentence Thursday for her role in a fraud that cost investors, lenders and customers billions of dollars.

Caroline Ellison, the key witness in the case against FTX founder Sam Bankman-Fried, arrived at a low-security federal prison in Connecticut on Thursday, according to a Bureau of Prisons official. TakeAway Points: In the Connecticut suburbs,

Gary Wang's legal team asked for the FTX co-founder to be spared from prison, much like fellow exec Nishad Singh was after cooperating.

Former FTX executive Caroline Ellison is set to start her two-year prison term in Connecticut. According to a new report by CNBC, a Bureau of Prison (BOP) spokesperson said that Caroline Ellison – the former CEO of FTX's sister company Alameda Research – will begin her two-year sentence after serving as the prosecution's star witness.

Caroline Ellison, who pleaded guilty to fraud charges tied to the collapse of crypto exchange FTX, is beginning her two-year prison sentence.