Sam Bankman-Fried's confidant Caroline Ellison will take the stand again at the FTX founder's trial on Thursday, where she could face questions about why she cooperated with prosecutors against her former boss and romantic partner.
on Thursday, where she could face questions about why she cooperated with prosecutors against her former boss and romantic partner.
Ellison, the former co-chief executive of Bankman-Fried's crypto hedge fund Alameda Research, has been on the stand since Tuesday detailing her role in a multibillion-dollar fraud prosecutors say was orchestrated by Bankman-Fried at his now-defunct cryptocurrency exchange., Ellison, who took the reins at Alameda in 2021, testified that the hedge fund took $10 billion in FTX customer funds to repay its debts and make investments.
Bankman-Fried's attorney Mark Cohen is expected to continue cross-examining Ellison, whom he questioned for a few minutes on Wednesday before jurors went home for the day.in customer funds to prop up Alameda, buy real estate and donate more than $100 million to U.S. political campaigns. FTX collapsed and declared bankruptcy in November 2022, shocking financial markets and destroying Bankman-Fried's reputation.
Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy, and has said that while he made mistakes running FTX, he never intended to steal funds., is one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud charges and agreed to cooperate with the Manhattan U.S. Attorney's office.
Earlier in the trial, Gary Wang, FTX's former technology chief, testified that Bankman-Fried falsely tweeted that FTX was "fine" in November as the exchange faced surging demand for withdrawals. A third cooperating witness, former FTX engineering chief Nishad Singh, is also expected to testify at the trial, which could last up to six weeks.California's new emissions laws could force companies to reveal more about their carbon footprint to the U.S.
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Sam Bankman-Fried trial: Caroline Ellison, ex-girlfriend of FTX founder, to testifyBarnini Chakraborty is the senior investigations reporter at the Washington Examiner. She has previously worked at Fox News as a senior features and politics reporter. She's also worked at Fox Business as a field producer and at Dow Jones. She began her career at the Augusta Chronicle in Georgia.
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Caroline Ellison Gets Her Revenge at Sam Bankman-Fried Fraud TrialThe disgraced crypto titan tried to blame the downfall of his entire operation on his ex-girlfriend. In court on Tuesday, she did not hold back when she took the stand.
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Star witness Caroline Ellison starts testimony at FTX founder Sam Bankman-Fried's trialThe trial of FTX founder Sam Bankman-Fried has taken a star turn as his former fellow top executive and ex-girlfriend Caroline Ellison began testifying against him. Ellison's highly anticipated turn on the witness stand in Manhattan federal court on Tuesday took place just before the trial broke for lunch, with Ellison blaming Bankman-Fried for crimes she admitted to last December in a cooperation deal. At one point, she was asked to identify Bankman-Fried in the courtroom. She stood up, scannin
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Star witness Caroline Ellison starts testimony at FTX founder Sam Bankman-Fried's trialThe trial of FTX founder Sam Bankman-Fried has taken a star turn as his former fellow top executive and ex-girlfriend Caroline Ellison began testifying against him.
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Star witness Caroline Ellison starts testimony at FTX founder Sam Bankman-Fried's trialThe trial of FTX founder Sam Bankman-Fried has taken a star turn as his former fellow top executive and ex-girlfriend Caroline Ellison began testifying against him.
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Caroline Ellison blames Sam Bankman-Fried for misuse of FTX user funds at trialFormer Alameda Research CEO Caroline Ellison took the stand at Sam Bankman-Fried’s criminal trial, admitting to fraud and providing misleading balance sheets for investors.
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