Caroline Ellison (29) has been sentenced to two years in prison for her role in the collapse of the Cryptocurrency exchange FTX, which has been one of the biggest financial frauds in US history.

Ellison is the ex-girlfriend of its founder, Sam Bankman-Fried who was sentenced to 25 years in prison for stealing more than $8bn ( £6.3bn) from customers. As part of a plea deal, Ellison admitted charges including wire fraud and money laundering, and testified against Bankman-Fried. She was also ordered to forfeit more than $11bn ( £8.2bn) to the court and could pay more if she’s ordered to hand over any restitution.

 She faced a maximum sentence 55 times what she was given – 110years in prison.  Judge Lewis Kaplan called her cooperation with prosecutors remarkable he said she was gravely culpable and that he help and remorse for the crime should not be a get of jail free card.

Ellison said “ On some level, my brain can’t even comprehend the scale of the harm that I caused.

FTX was founded in 2019, and within two-years it had grown into the third biggest crypto exchange in the world valued $32bn ( £26bn). In 2022, rumours of financial trouble sparked a run on its deposits, precipitating the firm’s implosion and exposing Bankman-Fried’s financial crimes. He was convicted by a New York jury last year on charges including wire fraud and conspiracy to commit money laundering, after a trial that detailed how he had used customer’s money for property purchases, investments and political donations. While Bankman-Fried was arrested and spent time in prison before his trial, Ellison remained free and agreed to help the criminal investigations. The revelations that she would testify against her former boyfriend and boss added to the drama of the high-profile trial.