Former Alameda Research CEO Testifies: SBF Allegedly Ordered Criminal Acts

Caroline Ellison, the former CEO of Alameda Research, testified in court that Sam Bankman-Fried, the former CEO of FTX, directed her to commit fraud and money laundering crimes. Ellison admitted to taking billions of dollars from customers to invest in other projects and repay debts, using an "essentially unlimited line of credit." She also claimed to have sent modified balance sheets to investors and lenders at Bankman-Fried's direction to make Alameda Research appear less risky. Ellison, along with other FTX executives, has pleaded guilty to multiple charges. Bankman-Fried is currently on trial for alleged fraud.