Enlarge / Caroline Ellison, former chief executive officer of Alameda Research LLC, was sentenced Tuesday for helping Sam Bankman-Fried cover up FTX's fraudulent misuse of customer funds. (credit: Bloomberg / Contributor | Bloomberg) Caroline Ellison was sentenced Tuesday to 24 months for her role in covering up Sam Bankman-Fried's rampant fraud at FTX—which caused billions in customer losses. Addressing the judge at sentencing, Ellison started out by explaining "how sorry I am" for concealing FTX's lies, Bloomberg reported live from the hearing. "I participated in a criminal conspiracy that ultimately stole billions of dollars from people who entrusted their money with us," Ellison reportedly said while sniffling.