Sam Bankman-Fried's Trial: Caroline Ellison's Testimony Exposes Fraud and Nightmare for FTX Customers
TL;DR Summary
Caroline Ellison, former CEO of Alameda Research, testified in court that Sam Bankman-Fried, former CEO of FTX, directed her and others to defraud customers of the cryptocurrency exchange by taking their money without their knowledge. Ellison stated that Bankman-Fried set up systems that allowed Alameda to take customer funds to repay loans and make investments. Prosecutors allege that Bankman-Fried plundered billions in customer funds to support his hedge fund, buy real estate, and donate to political campaigns. Bankman-Fried has pleaded not guilty to fraud charges.
- Sam Bankman-Fried directed fraud on FTX customers, Caroline Ellison tells jury Reuters
- 'Don't Do That Again': Sam Bankman-Fried's Lawyers Under Fire From Judge The New York Times
- Caroline Ellison tells jury Alameda took $14 billion from FTX customers, paid some of it back CNBC
- Editorial: In the world of cryptocurrencies, Sam Bankman-Fried's trial is a total nightmare Chicago Tribune
- Caroline Ellison Testifies Against Sam Bankman-Fried, Blaming Him for Crimes The New York Times
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