We’ve all heard about the people who earn a fortune from investing in the stock market and even become millionaires.
It’s not easy!
And most people don’t even know how the stock market works, let alone how to earn millions from this sort of marketplace.
Not Caroline Ellison!
Caroline Ellison Net Worth went up as far as $15 million after investing in the stock market. And this actually made people curious about how she did it.
But she was declared guilty of stealing billions of dollars from investing in the company FTX.
What really happened to this businesswoman’s net worth, and how did she come to this stage? I’ll tell you all about her today.
Caroline Ellison: Who Is She?
Caroline Ellison is actually a business executive in America who used to be the CEO of the Alameda Research company. And the company was actually a trading firm for tan FTX quantitative.
She was this firm’s CEO from the year 2016 to the year 2021 before she was convicted of her crimes.
When she was in the Alameda Research company, she became pretty popular for being so profitable and successful in the stock market.
She earned a lot!
Because of her investment in the stock market, she made a lot of money. And she even generated a lot of revenue through the quantitative trading firm, which was Alameda Research.
She was able to make her investment in companies with really high returns while taking a lot of risks. Thus, she made a lot of money doing this.
Caroline Ellison Net Worth
This woman’s net worth was valued at 15 million dollars right before she was convicted of her fraudulence.
Not after, though!
But after she got caught, Caroline Ellison Net Worth went down as low as $2 million to $5 million.
She invested in a lot of cryptocurrency companies when she was able to, meaning before her conviction, and got a lot of money out of it.
Also, the capital sector!
Yes, she even ventured into the world of the capital sector as well as the stock market to earn this much money.
So in 2020, Caroline Ellison Net Worth was valued to be about 15 million dollars. But by the time it was 2021, it dropped to $10 million because of her conviction.
And in 2022, she was found guilty, and her net worth dropped even more to $2-$5 million.
Now she isn’t involved in doing her business anymore, so the value of her net worth remains the same.
What Happened to Caroline Ellison in Court
To save herself from a guilty sentence, Caroline Ellison ended up hiring an attorney named Stephanie Avakian, who was working for the WilmerHale law firm.
And both of them worked together to enter a plea bargain, as Caroline Ellison admitted to her guilt when they started the legal proceedings.
She was guilty!
So she pleaded guilty and admitted to committing that she was involved in wire fraud with her FTX customers with her plea bargain.
Another guilty plea that she entered was that she conspired to commit this wire fraud also on Alameda Research company’s lenders as well as on the company itself.
That’s not all!
Her guilty pleas were not limited to just these. She also admitted to committing securities fraud, money laundering, and commodities fraud.
Through her plea transcript, people got to find 0out that even the FTX co-founder, Gary Wang, as well as others, were all in the conspiracy of stealing billions of dollars from their customers.
Even her boyfriend, Sam Bankman-Fried, and other FTX executives were a part of receiving billions of dollars in loans from the Alameda Research company.
Caroline Ellison was convicted of her criminal charges and the Caroline Ellison Net Worth dropped from 15 million dollars to about 2-5 million dollars, at the end.