“I’m deeply ashamed with what I’ve done,” she said, fighting through tears to say she was “so so sorry” to everyone she had harmed directly or indirectly.
She did not speak as she left Manhattan federal court, surrounded by lawyers.
In a court filing, prosecutors had called her testimony the “cornerstone of the trial” against Bankman-Fried, 32, who was found guilty of fraud and sentenced to 25 years in prison.
In court Tuesday, Assistant US Attorney Danielle Sassoon called for leniency, saying her testimony was “devastating and powerful proof” against Bankman-Fried.
FTX co-founder Sam Bankman-Fried was sentenced in March to 25 years in prison.Credit: AP
The prosecutor said Ellison’s time on the witness stand was very different from Bankman-Fried, who she said was “evasive, even contemptuous, and unable to answer questions directly” when he testified.
Attorney Anjan Sahni asked the judge to spare his client from prison, citing “unusual circumstances,” including her off-and-on romantic relationship with Bankman-Fried and the damage caused when her “whole professional and personal life came to revolve” around him.
FTX was one of the world’s most popular cryptocurrency exchanges, known for its Superbowl TV ad and its extensive lobbying campaign in Washington, before it collapsed in 2022.
US prosecutors accused Bankman-Fried and other top executives of looting customer accounts on the exchange to make risky investments, make millions of dollars of illegal political donations, bribe Chinese officials and buy luxury real estate in the Caribbean.
Ellison was chief executive at Alameda Research, a cryptocurrency hedge fund controlled by Bankman-Fried that was used to process some customer funds from FTX.
As the business began to falter, Ellison divulged the massive fraud to employees who worked for her even before FTX filed for bankruptcy, trial evidence showed.
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Ultimately, she also spoke extensively with criminal and civil US investigators.
Sassoon said prosecutors were impressed that Ellison did not “jump into the lifeboat” to escape her crimes but instead spent nearly two years fully co-operating.
Since testifying at Bankman-Fried’s trial, Ellison has engaged in extensive charity work, written a novel and worked with her parents on a math enrichment textbook for advanced high school students, according to her lawyers.
They said she also now has a healthy romantic relationship and has reconnected with high school friends she had lost touch with while she worked for and sometimes dated Bankman-Fried from 2017 until late 2022.
AP
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