After pleading guilty to many crimes, including conspiracy to conduct wire fraud and conspiracy to commit money laundering, Caroline Ellison faces up to 110 years in prison. Ellison has forfeited his right to a defense and agreed to pay the court-ordered reparations.
The plea agreement requires Ellison to work with prosecutors and law enforcement. Ellison was the CEO of FTX’s trading business, Alameda Research, and Sam Bankman-occasional Fried’s paramour.
Ellison’s guilty agreement, coupled with a similar agreement made by FTX cofounder Gary Wang, puts pressure on Sam Bankman-Fried, who maintains that FTX did not willfully commit crimes.
Caroline Ellison’s Parents Are Famous Mit Economists
Caroline Ellison was born to Sara Fisher and Glenn Ellison in November 1994. She grew up with Anna and Kate, her two younger sisters.
Ellison claimed on the FTX Podcast in July 2020 that, as a youngster, she was so obsessed with Harry Potter that she refused to wait for her parents to read her the book. She explained:
“I was pretty obsessed with Harry Potter as a kid. I started, I was 3 when the first book came out, my parents read it aloud to me, and when I was 5, the second book came out, I refused to wait for my parents to read it, so I read it myself.”
Economics professors at the Massachusetts Institute of Technology, Glenn and Sara Fisher. Ellison attended Harvard College and Cambridge University prior to obtaining his Ph.D. in Economics from MIT.
He was an assistant professor of economics at Harvard University for a brief while. In 1994, Glenn relocated to MIT, where he presently serves as head of the Economics Department.
Similar to Glenn, Sara Fisher has spent most of her career at MIT, where she is a Senior Lecturer in the Department of Economics.
Among other institutions, she has held visiting appointments at Princeton, the Paris School of Economics, the National Bureau of Economic Research, and the Center for Economic Studies in Munich.
Fisher has conducted a substantial study into the pharmaceutical sector and e-commerce. Her MIT Economics website features the following bio:
“She and her colleague Glenn Ellison have uncovered evidence that Internet technologies, formerly thought to largely benefit consumers by facilitating price comparisons, also serve the interests of businesses by making age-old obfuscation methods easier and less expensive to adopt.”
Glenn and Sara Fisher declined to comment on Caroline’s condition
Glenn and Sara Fisher have distanced themselves from the FTX issue by refusing to comment on news articles concerning their daughter. As an example, they refused to comment on a Boston Globe profile on Caroline.
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