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☆ Sam Bankman-Fried testifies he 'didn't have the time' for haircuts or long-term relationship with Caroline Ellison
▼ + stars: | 2023-10-27 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried addressed his breakup with Caroline Ellison on the witness stand Friday. AdvertisementAdvertisementOn the witness stand in his criminal trial Friday, Sam Bankman-Fried testified he was too busy running companies worth billions of dollars to get deeply involved in women and haircuts. One of their witnesses in the trial is Caroline Ellison, who ran Alameda as a CEO starting in mid-2021. That explanation is consistent with what Ellison herself said on the witness stand in earlier testimony. "I was kind of busy and lazy and didn't get haircuts for long periods of time," Bankman-Fried answered, sheepishly.

Persons: Sam Bankman, Fried, Caroline Ellison, —, Jane, Ellison, Mark Cohen, sheepishly, Cohen Organizations: Service, Alameda Research Locations: Manhattan, Alameda, Bankman

☆ Why Sam Bankman-Fried wanted to spend $10 million a year to put FTX name on sports stadium
▼ + stars: | 2023-10-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Prosecutors entered corroborating materials, including encrypted Signal messages and other internal documents that appear to show Bankman-Fried orchestrating the spending of FTX customer money. Similarly, Bankman-Fried testified that he believed the lavish Bahamas properties were being paid for with FTX operating cash that came from revenue and venture investments. As for the venture investments, Bankman-Fried said he thought that money was coming from Alameda's operating profits and third-party lending desks. Alameda's venture arm was renamed Clifton Bay Investments, which Bankman-Fried said was a first step in building a dedicated venture brand. When asked about loans he took from the business, Bankman-Fried said they were to pay for venture investments and political donations.

Persons: Sam Bankman, Amanda Perobelli, Fried, District Judge Lewis Kaplan, Mark Cohen, Bankman, Cohen, Sam Bankman Fried, Judge Lewis Kaplan, Elizabeth Williams, Caroline Ellison, Judge Kaplan, Jane, Banks, weren't, cryptocurrencies, FTX, Nishad Singh, Gary Wang, Singh, Wang, Prosecutors, Dan Friedberg, Fenwick, Marco Bello, Ryan Salame, Salame, Katy Perry, —, Dawn Giel Organizations: FTX, Reuters FTX, U.S, District, Stanford, Alameda Research, Elizabeth Williams Prosecutors, Massachusetts Institute of Technology, Alameda, Fenwick & West, Reuters, NFL's New, NFL's New Orleans Saints, Kansas City Chiefs, Facebook, Google, Clifton Bay Investments, Republicans Locations: Manhattan, New York City, U.S, Alameda, Bahamas, Berkeley , California, FTX, Friedberg, Miami , Florida, Miami, NFL's New Orleans, Clifton Bay, Los Angeles

☆ Sam Bankman-Fried's defense team fails to land a blow as he takes the stand
▼ + stars: | 2023-10-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried took the stand in a New York courtroom on Thursday, as he and his defense team auditioned their best legal material for U.S. District Judge Lewis Kaplan. Bankman-Fried, the son of two Stanford legal scholars, has pleaded not guilty in the case. Several of these witnesses have themselves pleaded guilty to multiple charges, including Bankman-Fried's ex-girlfriend Caroline Ellison, who faces a maximum sentence of 110 years for crimes committed while she was the CEO of Alameda. Given that the core issue will be intent to defraud, SBF should be portraying himself as clueless, inattentive, and in over his head. But for years he had portrayed himself as a visionary genius, and I don't expect that to change on the stand," he said.

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Fried's, Mark Cohen, Dan Friedberg, SBF, Renato Mariotti, Bryan Cave Leighton, Caroline Ellison Organizations: U.S, District, Stanford, U.S . Justice Department's Securities, Commodities, Alameda Research, Prosecutors Locations: New York, Manhattan, Chicago, Alameda

☆ Sam Bankman-Fried could take stand at fraud trial over FTX collapse
▼ + stars: | 2023-10-26 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Bankman-Fried has pleaded not guilty and maintained that while he made mistakes running FTX, he never intended to steal funds. They say Alameda looted FTX funds through special trading privileges on the exchange. Cohen said the defense plans to call three brief witnesses before Bankman-Fried takes the stand. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Fried, Mark Cohen, Bankman, Mark Troiano, Cohen, FTX, Luc Cohen, Noeleen Walder, Jonathan Oatis Organizations: REUTERS, Alameda Research, Thomson Locations: New York, U.S, Alameda, Manhattan

watch nowLawyers for Sam Bankman-Fried late Wednesday revealed details of his planned testimony if he takes the witness stand at his FTX fraud trial. Earlier Wednesday, one of Bankman-Fried's two chief trial attorneys, Mark Cohen, said in a conference call that his client would testify as would three other people. Cohen cited specific examples where, at the guidance of FTX lawyers, Bankman-Fried adopted a policy which prosecutors argued shows his criminality. But Cohen wrote that Bankman-Fried's understanding was that these auto-deletion policies were "instituted under the guidances of lawyers." "We respectfully submit that Mr. Bankman-Fried's knowledge of industry practices regarding the use of omnibus wallets is relevant to his good faith belief that his conduct was permissible," the letter added.

Persons: Sam Bankman, Judge Lewis Kaplan, Kaplan, Mark Cohen, Cohen, Fried, Caroline Ellison, Bankman, SBF, Gary Wang, Adam Yedidia, Wang, FTX, Sun Organizations: Bahamian, Stanford, Alameda Research, Prosecutors, Bankman, Bahamas Securities Commission, Securities Commission, The Locations: Manhattan, FTX, Alameda, Bahamian, The Bahamas, United States

☆ Judge blasts Sam Bankman-Fried for 'interesting' answers on the witness stand to questions about using FTX customer funds
▼ + stars: | 2023-10-26 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisement"Part of the problem is that the witness has what I'll simply call an interesting way of responding to questions," Kaplan said during the hearing. AdvertisementAdvertisementWhen Sassoon asked Bankman-Fried directly if he discussed spending FTX customer deposits with his lawyers, he took a long pause and looked down before he answered the question. Sassoon, questioning Bankman-Fried on the witness stand, asked Bankman-Fried to be more explicit about why he thought that explanation was acceptable. Asked directly by Sassoon if it was OK to steal customer funds, Bankman-Fried rejected that interpretation of events. Sassoon made that clear on Thursday as Kaplan asked for a broad timeline of the rest of the trial.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Kaplan, Mark Cohen, Danielle Sassoon, Sassoon, Bankman, Chelsea Jia Feng, I'm, Cohen, grumbled, Barbara Fried, " Cohen Organizations: Service, Alameda Research Locations: Manhattan, FTX, Alameda

Sam Bankman-Fried took the witness stand on Thursday after days of testimony from his inner circle. The FTX cofounder is facing seven charges of fraud over the collapse of the cryptocurrency exchange. AdvertisementAdvertisementSam Bankman-Fried took the witness stand Thursday to testify in his own defense in the criminal trial involving FTX's collapse. After briefly describing the "constant" threat of attempts to hack FTX, Bankman-Fried got into the company's document retention policy, which he said he abided by "to my knowledge." The FTX cofounder is facing seven criminal charges and has pleaded not guilty on all counts.

Persons: Sam Bankman, Fried, —, Judge Lewis Kaplan, Kaplan, Mark Cohen, Gary Wang, Caroline Ellison, Wang, FTX, Ellison, she'd Organizations: Service, FTX, Alameda Research, Alameda Locations: Alameda

☆ Sam Bankman-Fried to Take the Stand in Fraud Trial
▼ + stars: | 2023-10-25 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

FTX founder Sam Bankman-Fried is on trial for fraud and conspiracy charges after the collapse of his crypto empire last year. WSJ’s Alexander Osipovich breaks down what happened to FTX and what to look for as the trial unfolds. Photo illustration: Annie ZhaoFTX founder Sam Bankman-Fried will testify at his criminal trial, his defense team said Wednesday, in what many legal observers see as a Hail Mary attempt to persuade jurors that he never intended to defraud the crypto exchange’s customers out of billions of dollars. Bankman-Fried will likely testify over Thursday and Friday, Cohen said. Federal prosecutors said they would rest their case Thursday morning.

Persons: Sam Bankman, WSJ’s Alexander Osipovich, Annie Zhao FTX, Fried, Mary, Mark Cohen, Cohen Organizations: New Locations: New York

NEW YORK (AP) — FTX founder Sam Bankman-Fried plans to testify at his fraud trial, his lawyer told a federal judge on Wednesday, a day before the defense is set to counter testimony from former executives who say the cryptocurrency executive stole billions of dollars from his customers and investors over several years. Attorney Mark Cohen told Judge Lewis A. Kaplan that he planned to call three witnesses “and then our client is also going to be testifying” after prosecutors rest early Thursday. Even so, prosecutors and the judge later discussed the possibility that closing arguments could occur early next week if Bankman-Fried changes his mind and doesn't take the stand. That means only Bankman-Fried or other character witnesses can tell his side of the story, former prosecutors said. ___For more AP coverage of Sam Bankman-Fried and FTX: https://apnews.com/hub/sam-bankman-fried

Persons: — FTX, Sam Bankman, Fried, Mark Cohen, Judge Lewis A, Kaplan, “, ”, Cohen, Rachel Maimin, Lowenstein Sandler, Caroline Ellison, Gary Wang, Joshua Naftalis, “ It’s, Mary Organizations: Alameda Research, Pallas Partners Locations: Manhattan, Palo Alto , California, Bahamas

☆ Sam Bankman-Fried to testify in FTX fraud trial, attorney says
▼ + stars: | 2023-10-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

FTX founder Sam Bankman-Fried will take the stand to testify in his own defense, his attorney said in a conference call Wednesday. The decision by his legal team sets him up for a cross-examination by federal prosecutors, who will be able to press him on the collapse of his crypto exchange FTX. Bankman-Fried's decision to testify came after federal prosecutors and his defense team were able to secure the alleged fraudster an adequate supply of his ADHD medication. The defense will also call three other witnesses besides Bankman-Fried to the stand, defense attorney Mark Cohen said on the call. Bankman-Fried stands accused of fraud and money laundering of his role in the collapse of the multi-billion dollar crypto exchange FTX.

Persons: Sam Bankman, Mark Cohen, Nishad Singh, Caroline Ellison, Fried, Dawn Giel Organizations: Prosecutors, Federal Bureau of, Alameda Research

Sam Bankman-Fried will take the stand in his criminal trial, his lawyer said. AdvertisementAdvertisementSam Bankman-Fried plans to take the witness stand to testify in his own defense in the criminal fraud trial over FTX's collapse, according to his attorney Mark Cohen. In a hearing in federal court in downtown Manhattan Wednesday, Cohen said he would call three witnesses in Bankman-Fried's defense case, and then Bankman-Fried himself would testify. Prosecutors said they would bring two more witnesses before resting, turning things over to Bankman-Fried's lawyers to make their defense case. Earlier in the trial, Bankman-Fried's attorneys appeared to go back and forth on whether the FTX cofounder would take the stand.

Persons: Sam Bankman, —, Fried, Mark Cohen, Cohen, Prosecutors, Bankman, Caroline Ellison, Ellison, Eric Chaffee, Lewis Kaplan, Kaplan, Richard Painter, George W, Bush, Painter Organizations: Service, Prosecutors, Case Western Reserve University, University of Minnesota, White House Locations: Manhattan, Bankman, FTX

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, is planning to testify at his criminal fraud trial in Manhattan, his lawyer said on Wednesday. Mr. Bankman-Fried, 31, is likely to begin testifying on Thursday, after federal prosecutors call their final witness in the morning. “Our client is going to be testifying,” Mr. Cohen said at the hearing. Mr. Bankman-Fried is charged with orchestrating a sweeping scheme to steal as much as $10 billion in deposits from customers of FTX. Mr. Bankman-Fried has pleaded not guilty to seven charges of fraud, conspiracy and money laundering.

Persons: Sam Bankman, Mark Cohen, Bankman, ” Mr, Cohen, Fried Organizations: Prosecutors Locations: Manhattan, FTX

On the second day of Sam Bankman-Fried’s fraud trial this month, one of the lawyers for the cryptocurrency mogul delivered an emphatic message to the jury. He lied repeatedly, they said, running roughshod over his top lieutenants and directing them to treat customer deposits as if FTX were a piggy bank. The testimony has dealt a blow to Mr. Bankman-Fried’s “good faith” defense, which will be put to the test this week. At a hearing on Wednesday, Mark Cohen, a defense lawyer, confirmed that Mr. Bankman-Fried, 31, would take the stand. But given the prosecution’s success in building its case, legal experts said, it was all but inevitable that Mr. Bankman-Fried would want to tell the jury his side of the story.

Persons: Sam Bankman, FTX, Bankman, Mark Cohen Locations: Manhattan

☆ Sam Bankman-Fried's lawyers avoid challenges to 'cartoon' villain image
▼ + stars: | 2023-10-23 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Defense lawyers will have a chance to put forward a competing narrative when they present their case, beginning as soon as Thursday. A STRATEGIC CHOICEAllowing specific unfavorable accounts by prosecution witnesses to go unchallenged on cross-examination could be a strategic choice by the defense, according to experts. During opening statements, Cohen told jurors of the prosecutors: "They'd have you think he was quite the villain, or, more precisely, almost a cartoon of a villain. "It was pretty humiliating," said Singh, who has pleaded guilty to fraud charges. Ellison, who has also pleaded guilty to fraud, said Bankman-Fried told her that his signature sloppy dress and wild mop of curly locks was an "important part of FTX's image."

Persons: Sam Bankman, Andrew Kelly, Fried, Bankman, doesn't, Jordan Estes, Kramer Levin, Mark Cohen, Cohen, Rachel Maimin, Lowenstein Sandler, Sam, gooder, Nishad Singh, Singh, Caroline Ellison, Alameda's, Ellison, Luc Cohen, Will Dunham, Amy Stevens Organizations: FTX, Manhattan, REUTERS, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Washington, Alameda, New York

☆ Sam Bankman-Fried's ex-friends and top lieutenants all demolished his criminal defense from the witness stand
▼ + stars: | 2023-10-21 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Sam Bankman-Fried's defense attorneys have argued that FTX's collapse is complicated and he didn't know everything. AdvertisementAdvertisementDuring opening statements at Sam Bankman-Fried's trial, it quickly became clear that prosecutors and his defense attorneys had very different approaches. But Bankman-Fried's attorneys may convince jurors that Bankman-Fried genuinely believed his actions were acceptable in the wild-west cryptocurrency industry. The challenge for Bankman-Fried's attorneys is to convince jurors that he didn't know about any wrongdoing. "Sam directed me to," Ellison testified.

Persons: Sam Bankman, They've, —, — Caroline Ellison, Gary Wang, Nishad Singh —, Thane Rehn, Rehn, Mark Cohen, Ellison, Cohen, FTX, Crypto, it's, Sam Bankman Fried, Craig Ruttle, Sarah Krissoff, Cozen O'Connor, Fried, Krissoff, Singh, Wang, Paul Tuchmann, Wiggin, Dana, Sam, Caroline Ellison, Eduardo Munoz Alvarez, Gary, Sun, He's Organizations: Service, Prosecutors, Alameda Research, Alameda Locations: Manhattan, Washington, Bankman, Alameda, New York, FTX, Bahamas

☆ Will Sam Bankman-Fried take the witness stand? It would be dangerous — but he has little to lose.
▼ + stars: | 2023-10-19 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried needs to decide soon whether he'll take the witness stand in his criminal trial. AdvertisementAdvertisementCaroline Ellison testified in the trial of her ex-boyfriend, Sam Bankman-Fried JANE ROSENBERGFor that reason, the case against Bankman-Fried rests on the credibility of his alleged co-conspirators. In their own questioning of the cooperating witnesses, prosecutors have encouraged them to be open about taking responsibility for their crimes. Court sketch of Sam Bankman-Fried on the first day of his trial JANE ROSENBERG/ReutersIf Bankman-Fried takes the stand, he'll be cross-examined by prosecutors. If Bankman-Fried takes the stand, prosecutors will almost certainly point to more material and catch him in any contradictions.

Persons: Sam Bankman, he'll, he's, —, They're, Fried, Mark Cohen, Lewis Kaplan, who's, Cohen, He's, Caroline Ellison, Gary Wang, Nashad Singh, Sarah Krissoff, Cozen O'Connor, FTX, Mary Altaffer, Kaplan, Paul Tuchmann, Wiggin, Dana, Tuchmann, Adam Yedidia, Fried JANE ROSENBERG, Ellison, Wang, Singh, Bankman, Wang forthrightly, Ellison teared, slovenliness, Prosecutors —, Krissoff, JANE ROSENBERG, hedged, didn't, Judge Kaplan's, SBF Organizations: Service, Defense, US, Alameda Research, Former Alameda Research, AP, Prosecutors, Toyota Corolla, Reuters, ABC News, Alameda . Locations: Manhattan, Alameda, New York, FTX

☆ Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'
▼ + stars: | 2023-10-17 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Eduardo Munoz//File Photo Acquire Licensing RightsNEW YORK, Oct 17 (Reuters) - FTX founder Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous," pushing back against testimony by a former executive who called its spending on marketing and celebrity endorsements excessive. This is the third week of Bankman-Fried's trial in Manhattan federal court on charges related to the looting billions of dollars in customer funds to make investments, donate to U.S. political campaigns and prop up his hedge fund, Alameda Research. Bankman-Fried, who has pleaded not guilty, has argued that while he made mistakes running FTX, he never intended to steal funds. Jurors have already heard from Gary Wang, FTX's former chief technology officer, and Caroline Ellison, Alameda's onetime chief executive officer and Bankman-Fried's former girlfriend. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Nishad Singh, Tom Brady, Mark Cohen, Singh, Fried, K5, Cohen, Kendall Jenner's, Gary Wang, FTX's, Caroline Ellison, Alameda's, Luc Cohen, Will Dunham Organizations: REUTERS, Miami Heat, NFL, Defense, Tuesday, K5, Alameda Research, Thomson Locations: New York, U.S, Bankman, Manhattan

☆ Bankman-Fried needs Adderall to testify, defense requests delay in trial
▼ + stars: | 2023-10-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

"Bankman-Fried has been doing his best to remain focused during the trial for the past two weeks, despite not having his prescribed dose of Adderall during trial hours," continues the letter to the court. "Mr. Bankman-Fried has a history of Major Depressive Disorder and Attention Deficit Hyperactivity Disorder," Lerner wrote. Lerner added in his letter that Bankman-Fried had tried other antidepressants but said they were ineffective for his symptoms. Without his medication, Lerner warned the judge, "Bankman-Fried will experience a return of his depression and ADHD symptoms and will be severely negatively impacted in his ability to assist in his own defense." For nearly a year, there's been a nationwide shortage of Adderall, the popular stimulant used to treat ADHD.

Persons: Sam Bankman, District Judge Lewis Kaplan, Fried, Mark Cohen's, Judge Kaplan, Cohen, Bankman, Caroline Ellison, meds, George Lerner, Lerner, there's Organizations: U.S, District, Government, U.S . Food, Drug Administration Locations: Bahamas, U.S

☆ Prosecutors say Sam Bankman-Fried got shady doctor to prescribe Adderall as judge denies greater access to pills during trial
▼ + stars: | 2023-10-16 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried's defense attorneys say he doesn't have enough Adderall. Before the trial began, they had written to the judge asking for "uninterrupted access" to the drug. AdvertisementAdvertisementProsecutors in Sam Bankman-Fried's trial raise concerns about the former cryptocurrency mogul's repeated requests for more Adderall during his criminal trial, claiming in court Monday that his doctor "has engaged in some suspect practices." AdvertisementAdvertisementBut, as Bankman-Fried's attorneys revisited their medicinal complaint in court on Monday, the prosecution accused them of using a sham doctor who overprescribes to patients. When Bankman-Fried's lawyers suggested stopping the trial until then, Kaplan refused.

Persons: Sam Bankman, SBF, —, mogul's, Danielle Sassoon, Lewis Kaplan, overprescribes, Sassoon, Mark Cohen, Fried, Cohen, Kaplan, hasn't Organizations: Service, US, Bureau of Prisons, Metropolitan Detention Center, Marshalls, Federal Bureau of Prisons Locations: Brooklyn

☆ Sam Bankman-Fried may need a Hail Mary if he wants to win over jurors
▼ + stars: | 2023-10-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Nishad Singh, former director of engineering at FTX, arrives at federal court in New York on Monday. Whether or not to testify is case-dependent, and clients take a big risk in opening themselves up to cross-examination by prosecutors. The Adderall issueSam Bankman-Fried, center, has pleaded not guilty to seven federal counts of fraud and conspiracy. So he’s only getting one in the morning before he’s transferred to the courthouse and one in the evening. While they have not yet presented their case, Bankman-Fried’s lawyers have repeatedly failed to stick the landing when it comes to cross-examining the government’s witnesses.

Persons: CNN Business ’, Sam Bankman, Mary, Nishad Singh, Yuki Iwamura, wouldn’t, ”, Jordan Estes, Kramer Levin, Estes, aren’t, Hail Mary, Elizabeth Williams, Mark Cohen, he’s, Cohen, hasn’t, Fried, Bankman, ” Cohen, Caroline Ellison, you’ll Organizations: CNN Business, New York CNN, Alameda Research, Bloomberg, US Attorney’s, Hail, AP, Metropolitan Detention, of Prisons Locations: New York, Manhattan, Bankman, Alameda, FTX

☆ Sam Bankman-Fried's lawyers say he needs more Adderall to concentrate in court
▼ + stars: | 2023-10-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

SBF's lawyers are petitioning the court to grant him access to more Adderall during his trial. AdvertisementAdvertisementSam Bankman-Fried's lawyers say the embattled FTX founder needs more Adderall so he can concentrate during his ongoing criminal trial. The lawyers wrote that Bankman-Fried had only been given a dose of Adderall in the early mornings before he arrived at court for his criminal trial. Bankman-Fried's legal team proposed in the letter that their client be given an extended-release dose of Adderall before he is taken to court on Monday. The criminal trial against the disgraced crypto entrepreneur began on October 3.

Persons: wouldn't, —, Sam Bankman, Fried, Lewis Kaplan, Kaplan, Mark Cohen, Bankman Organizations: Service, The New Yorker, Bankman, Metropolitan Detention, Prosecutors, Alameda Research Locations: Brooklyn, Alameda

☆ Secret audio, a star witness, and ‘Thai prostitutes’ complicate Sam Bankman-Fried’s defense
▼ + stars: | 2023-10-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

‘The ultimate insider’Caroline Ellison offered crucial testimony this week against her former boss and ex-boyfriend, Sam Bankman-Fried. Like Bankman-Fried, Ellison faces the prospect of 110 years in prison if given a maximum sentence. Bankman-Fried’s defense team cross-examined Ellison for about six hours on Thursday in a meandering, halting back-and-forth that repeatedly prompted objections from the prosecution. The secret audio recordingCaroline Ellison, former chief executive of Alameda Research, leaves federal court in Manhattan on Thursday. Statements like the ones Ellison made in the recording are known as “prior consistent statements of a witness,” Estes said.

Persons: Sam Bankman, He’s, Caroline Ellison, Fried, Jane Rosenberg, —, ”, Jordan Estes, Kramer Levin, “, SBF’s, Ellison, Gary Wang, FTX, Sam, Judge Lewis Kaplan, Mark Cohen, Stephanie Keith, Christian Drappi, “ Sam’s, ” Estes, they’ve, ’, What’s, Estes, that’s, Mary, ” Prosecutors, there’s, ’ ” Estes, you’ve Organizations: New, New York CNN, Alameda Research, Reuters, US Attorney’s, Bloomberg, Getty, Alameda, Christian, ”, CNN Locations: New York, Alameda, Bahamas, Manhattan, Hong Kong, China

☆ Sam Bankman-Fried's defense lawyer gave a snooze-worthy cross-examination of key witness Caroline Ellison in criminal trial
▼ + stars: | 2023-10-13 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Their cross of Caroline Ellison, arguably the biggest witness in the case, was noticeably repetitive. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ex-girlfriend and ex-Alameda-CEO Caroline Ellison returned to the witness stand in Manhattan federal court on Thursday for a cross-examination frequently interrupted with objections and sidebars. AdvertisementAdvertisementThe former CEO of FTX's sister company Alameda Research, Ellison pleaded guilty to seven financial fraud and conspiracy charges in December.

Persons: Sam Bankman, Caroline Ellison, —, Mark Cohen, quizzing Ellison, Ellison, Cohen, Fried, Bankman, Lewis Kaplan, Danielle Sassoon Organizations: Service, Alameda, Alameda Research, FBI Locations: Manhattan, Alameda, FTX, Bahamas

Sam Bankman-Fried laughed and shook his head during Caroline Ellison's testimony, prosecutor claims. The prosecutor asked Bankman-Fried's lawyer to tell his client to control his reactions. Ellison gave emotional testimony Wednesday and appeared to place the blame for FTX's collapse on SBF. AdvertisementAdvertisementCaroline Ellison's testimony provoked a series of reactions from her ex-boyfriend Sam Bankman-Fried on Wednesday, a prosecutor said during a sidebar conversation. Prosecutor Danielle Sassoon told the judge in Bankman-Fried's criminal trial that the FTX cofounder had "laughed, visibly shaken his head, and scoffed" while Ellison testified.

Persons: Sam Bankman, Fried, Caroline Ellison's, Bankman, Ellison, —, Danielle Sassoon, Judge Lewis Kaplan, Mark Cohen, " Sassoon, Cohen, Lewis, he'd, he's Organizations: Service, Alameda Research Locations: Bankman, Manhattan

☆ Sam Bankman-Fried’s lawyers prepare to question star witness
▼ + stars: | 2023-10-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —After two days of at-times emotional testimony from Caroline Ellison, a former top adviser to fallen crypto mogul Sam Bankman-Fried, defense lawyers were set to begin questioning her on the stand Thursday. Ellison, 28, told jurors this week that she and Bankman-Fried, whom she dated on and off, committed financial crimes for years. Former crypto hedge fund Alameda Research CEO Caroline Ellison arrives for Sam Bankman-Fried's trial at Federal Court in New York City, October 11, 2023. Sam acted in good faith in trying to build and run FTX and Alameda.”But “things were happening quickly, very quickly,” Cohen said. “Sam and others made hundreds of decisions a day … as a result, some things got overlooked.”This story is developing and will be updated.

Persons: Caroline Ellison, Sam Bankman, Ellison, Fried, Brendan McDermid, Mark Cohen, Sam didn’t, Sam, ” Cohen, “ Sam Organizations: New, New York CNN, Alameda Research, Alameda, Federal Court, Reuters Locations: New York, New York City, Alameda

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