Sam Bankman-Fried’s defense lawyer has struggled through a meandering cross-examination of the FTX founder’s former girlfriend Thursday, keeping both the judge and the public guessing as to his strategy in countering the testimony of the government’s key witness.
Caroline Ellison former CEO of Alameda Research founded by Sam Bankman-Fried exits the Manhattan federal court after testifying on Tuesday, Oct. 10, 2023, in New York. – Sam Bankman-Fried's lawyer struggled through a meandering cross-examination of the FTX founder's former girlfriend Thursday, keeping both the judge and the public guessing as to the defense team's strategy in countering the testimony of the government's key witness.
Ellison spent much of her testimony walking the jury through how she repeatedly had to tap into the customer deposits at FTX to solve problems at the hedge fund or at the exchange. FTX deposits would be withdrawn to pay for new investments or political donations, or to hide steep losses on Alameda’s balance sheet, she testified. All of this was done at the direction of Bankman-Fried, she said.to the United States from the Bahamas.
Cohen, however, seemed to struggle in his questioning of Ellison, failing to knock any holes in her testimony. He repeatedly changed topics, changed dates of discussion, often seemingly at random. Several times, Judge Lewis A. Kaplan had to ask Cohen where he was going with his questions or what exactly he was talking about.
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