From MIT Economics to Federal Prison: The Ellison Family's Unexpected Turn

When Caroline Ellison walked into court on September 24, she wasn’t alone. Her parents Glenn Ellison and Sara Fisher Ellison—both prominent economists at MIT—sat in the gallery as the judge handed down a two-year federal prison sentence for her role in the Alameda Research collapse.

Two Accomplished Academics Watch Their Daughter’s Sentencing

What makes this story particularly striking is the contrast between the Ellisons’ professional standing and their daughter’s downfall. While Glenn Ellison holds a professorship at MIT and previously served as Department Head, and Sara Fisher Ellison works as a senior lecturer in the same department, their daughter had become entangled in one of crypto’s biggest frauds.

The sentence was harsher than expected. Despite her lawyers requesting zero prison time and prosecutors backing a lenient deal due to her cooperation against Sam Bankman-Fried, federal sentencing guidelines required Ellison to serve at least two-thirds of her time. She won’t be eligible for release until March 2026. The one concession: the court allowed her to serve nearby in Boston, close to her family.

A Family of Economists with Diverse Research Paths

Glenn Ellison’s academic work spans game theory, industrial organization, and finance. He’s published extensively on market dynamics, taxation, and even co-authored the “Hard Math” educational textbook series for younger students. His research on the gender gap in secondary school mathematics shows his commitment to understanding systemic issues in economics and education.

Sara Fisher Ellison takes a different focus. Her research centers on e-commerce platforms and pharmaceutical markets—examining how internet technology reshapes competition and pricing in traditional industries. Her work on drug markets explores both supply and demand mechanisms.

When Two Economists Collaborate

The pair have occasionally joined forces on academic projects. Their 2005 paper “Lessons About Markets From the Internet” and their 2018 work on retail obfuscation show shared intellectual ground. Their most recent collaboration examined how platforms like Airbnb affect property markets—potentially increasing economic welfare while risking housing supply problems.

Since Caroline Ellison’s charges became public, the Ellison parents have maintained a low profile, largely avoiding media inquiries and appearing only when required by circumstance. The family’s experience offers a stark reminder that academic achievement and careful parenting don’t guarantee protection from personal crises.