The ex-girlfriend of convicted FTX fraudster Sam Bankman-Fried will serve less prison time than her original sentence, according to a report.
Caroline Ellison, who ran Bankman-Fried’s Alameda Research cryptocurrency hedge fund, reported to the Danbury Federal Correctional Institution in Connecticut on Nov. 7 to begin serving a two-year sentence after pleading guilty to wire fraud, wire fraud securities and money laundering related to the FTX collapse.
But Federal Bureau of Prisons records show her release date is scheduled for July 20, 2026 — or three months short of two years, according to Business Insider.
The Post has sought comment from Ellison’s attorney.
In 2018, then-President Donald Trump signed into law the First Step Act, which allows incarcerated individuals to earn time off their sentences for good behavior.
“Each inmate earns Good Conduct Time (GCT), which is credited to their release date,” a federal prison official told Business Insider.
Those serving time “will be entitled to earn up to 54 days of GCT time for each year of the sentence imposed by the court,” according to the spokesperson.
In accordance with federal law, the Bureau of Prisons “continues to assess the amount of GCT earned for the last year of sentence service,” the spokesman said.
Ellison, 30, was sentenced in September after agreeing to cooperate with prosecutors overseeing the Bankman-Fried case.
During the trial, Ellison testified that she and Bankman-Fried used Alameda Research to invest billions of dollars of customer deposits in risky bets.
Ellison’s attorneys asked U.S. District Judge Lewis Kaplan not to give her any prison time, citing her cooperation.
But Kaplan told Ellison at her sentencing hearing that “for it to be such a serious case, for it to be a literal get-out-of-jail-free card — I can’t see a way around it.”
Kaplan said Ellison’s cooperation was “very, very substantial” and “extraordinary.”
But he said a prison sentence was necessary because she had taken part in what could be “the biggest financial fraud ever perpetrated in this country and probably anywhere” or at least close to it.
“I am deeply ashamed of what I have done,” she said at the sentencing hearing, fighting back tears to say she was “very sorry” for all those she had harmed directly or indirectly.
Bankman-Fried, 32, remains incarcerated at the notorious Metropolitan Detention Center in Brooklyn after appealing his conviction.
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