FTX executive Caroline Ellison wrote a Bridgerton-style romance novel while awaiting her verdict

Caroline Ellison wrote a steamy Bridgerton-style romance novel while waiting to learn her fate for her involvement in the multi-billion dollar FTX crypto scam, her mother revealed.

MIT-educated Ellison had a tumultuous on-off relationship with FTX founder Sam Bankman-Fried and pondered experimenting with polyamory – until she famously turned witness and presented incriminating evidence against her ex.

“She has written a charming novella (set in Edwardian England and, to Kate's great delight, loosely based on the imaginary love adventures of her sister Kate),” her mother, Sara Fisher Ellison, wrote in a letter asking the judge for leniency at sentencing.

“She is working on another novel that we haven’t seen yet,” the mother added.

The 29-year-old now has plenty of time to bring this case to a close – she was sentenced to two years in prison on Tuesday for her role in the FTX disaster, in which billions of dollars worth of cryptocurrencies disappeared within a matter of days in 2022.

Ellison pleaded guilty to fraud that same year and agreed to cooperate with federal prosecutors in what was one of the largest financial crimes in history.

This collaboration played a key role in landing FTX founder – and her former lover – Bankman-Fried behind bars for 25 years.

After Ellison pleaded guilty, she was released on $250,000 bail while she testified for the government.

Some observers said Ellison's cooperation might mean she could avoid prison altogether. But on Tuesday, Judge Lewis Kaplan said prison time was necessary because Ellison was involved in what may be “the largest financial fraud ever perpetrated in this country and probably anywhere else.”

Kaplan said he would not give her a “carte blanche,” despite Ellison's “sincere” remorse for her role in the brazen crime – in which Bankman-Fried stole billions of dollars in FTX user funds in 2022 to cover the losses of his bankrupt hedge fund.

The judge also said Ellison was “vulnerable” and “taken advantage of” and called Bankman-Fried “her kryptonite.”

“Although you were gravely culpable in this fraud, there is no doubt that you cooperated remarkably,” Kaplan added. “That is a fundamental difference between you and Mr. Bankman-Fried.”

Ellison wore a dark gray blazer over a maroon dress. She stood with her hands folded in front of her as the judge announced the verdict, then tilted her head slightly forward. She was ordered to report to prison on November 7.

In the two years before her conviction, she not only wrote daring prose but also volunteered as a teacher of English as a second language, her mother wrote in a letter.

“These tasks are not an achievement for her. She values ​​doing good work and cares about the people she helps. None of this surprises us, of course, but we are encouraged that she finds so much joy and fulfillment in working directly and helping those in need,” she said.

Ellison also contributed to a statistics textbook that her father and some colleagues are working on, her mother wrote.

“Caroline is a very talented writer,” she said.

During the sentencing, Kaplan acknowledged Ellison's great help in the case against Bankman-Fried, but said he could not completely absolve her of responsibility.

“I can’t imagine turning this into a get-out-of-jail-free card,” Kaplan said.

Ellison, an MIT graduate from the Boston area, was CEO of Alameda Research, the Bankman-Fried hedge fund in which he invested FTX investors' money.

Before the deal, Ellison faced up to 110 years in prison for her involvement in the plot.

She is scheduled to begin her prison sentence on November 7.