Caroline Ellison, who dated Bankman-Fried for ‘a couple of years’, tells court that he ‘directed me to commit these crimes’
, the prosecution’s star witness named the FTX founder as the ringleader of a $10bn fraud scheme at the cryptocurrency exchange and its associated hedge fund.Ellison
The prosecution’s line of questioning depicted Bankman-Fried as the mastermind of the operations at the companies, with Ellison stating that he was responsible for setting up the system that allowed Alameda to borrow from FTX. Ellison testified that, while FTX was being audited, she raised concerns to Bankman-Fried that investors would find out how Alameda was using customers’ funds without their knowledge, but that he told her not to worry about it.
“The whole time that we were dating he was also my boss at work,” Ellison told the court. At one point during their time together, Ellison testified, Bankman-Fried discussed his ambitions and claimed there was a “5% chance that he’d become president”. The day began with testimony from Gary Wang, an FTX co-founder who first took the witness stand last week and has pleaded guilty to wire, securities and commodities fraud. WangIn Wang’s cross-examination, defense attorney Christian Everdell posited that Alameda’s financial situation and its operations were not as dire as prosecutors had presented. Everdell stated that Alameda used only a fraction of its massive line of credit with FTX.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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
Read more »
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.
Read more »
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.
Read more »
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.
Read more »
Star witness to take stand in US crypto king trialThe star witness in the trial of Sam Bankman-Fried arrived at a New York federal court on Tuesday where she is expected to give damning evidence against the one time crypto wunderkind.
Read more »
Sam Hupert’s Pro Medicus puts the entrepreneur into the double billionaires clubMedical technology firm Pro Medicus has delivered blistering returns this year. Its success has propelled co-founder Sam Hupert into the $2 billion club.
Read more »