Her testimony is crucial to prosecutors’ case against Sam Bankman-Fried, whom they accuse of orchestrating a scheme to steal billions of dollars from customer accounts in FTX, his now-bankrupt crypto trading platform.
Caroline Ellison, former CEO of Alameda Research.
carolinecapital/XProsecutors’ case hinges on evidence that FTX and Alameda were deeply financially intertwined, despite repeated assurances from Bankman-Fried that they were separate companies, operating independently from one another.
As Alameda was spiraling last fall, Ellison told her employees that the fund had borrowed money from FTX customer accounts to pay back lenders.
Already, prosecutors have presented evidence that looks bad for Bankman-Fried, though the defense has yet to present its case.
Persons:
CNN Business ’, Caroline Ellison, Sam Bankman, Ellison, FTX’s, ‘, — Ellison, SBF, ” Ellison, “, Fried, Sam
Organizations:
CNN Business, New York CNN, Alameda Research, Stanford, New York Times
Locations:
New York, FTX, Bankman, Alameda, Manhattan