Caroline Ellison, the tech executive who ran Bankman-Fried’s hedge fund while sometimes dating him, tells the court he directed her to commit fraud.
Former cryptocurrency billionaire Sam Bankman-Fried's fraud case is unfolding in New York City, with a key witness taking to the stand.
He was later arrested in the Bahamas, extradited to the US and is now facing eight criminal charges including wire fraud, money laundering, and conspiracy to commit fraud on the United States.The daughter of two Massachusetts Institute of Technology economics scholars, Ellison was a high achiever, taking part in maths competitions throughout high school and college.
Bankman-Fried installed Ms Ellison as chief executive at Alameda, where she was paid $310,000 in salary with her biggest bonus of $31 million occurring in 2021.She told the court they were in a romantic relationship in summer 2020. "He directed me to commit these crimes," she said of Bankman-Fried, when asked by a prosecutor about his involvement.
She said the hedge fund, Alameda Research, took about $10 billion in FTX customer funds to repay its debts and make investments.The fund gained the money through a $65 billion line of credit it had on the exchange, and from funds FTX customers deposited into an Alameda bank account when FTX lacked its own account.
He even thought there was a 5 per cent chance he'd become president of the United States some day, she said.Australian grandmother Galit Carbone confirmed killed in IsraelIsrael death toll reportedly reaches 1,200, Palestinian envoy accuses Israel of 'genocidal' campaign in Gaza
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The ex factor: Sam Bankman-Fried’s former girlfriend to testify in fraud trialCaroline Ellison, former CEO of Alameda Research, will take the stand as the prosecution’s star witness on Thursday
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Bankman-Fried ‘directed me to commit these crimes’, key witness saysThe trial of FTX founder Sam Bankman-Fried took a star turn on Tuesday as his former fellow top executive, Caroline Ellison, began testifying against him.
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Bankman-Fried ‘directed me to commit these crimes’, key witness saysThe trial of FTX founder Sam Bankman-Fried took a star turn on Tuesday as his former fellow top executive, Caroline Ellison, began testifying against him.
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Bankman-Fried ‘directed me to commit these crimes’, key witness saysThe trial of FTX founder Sam Bankman-Fried took a star turn on Tuesday as his former fellow top executive, Caroline Ellison, began testifying against him.
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Sam Bankman-Fried trial: ex-girlfriend says he directed her to commit crimesCaroline Ellison, who dated Bankman-Fried for ‘a couple of years’, tells court that he ‘directed me to commit these crimes’
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Sam Bankman-Fried trial: Ex-girlfriend says SBF wanted to be US presidentFormer colleague Caroline Ellison also told a court that the FTX founder directed her to commit fraud before his cryptocurrency empire collapsed last November.
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