Caroline Ellison, the ex-CEO of Alameda Investigation, took the stand as the fifth witness for the prosecution in Sam Bankman-Fried’s 6-week demo, boasting that the former FTX CEO directed her to dedicate fraud and income laundering crimes.
Ellison added that although she ran Alameda, she took several billion dollars from clients to devote in other assignments and repay money owed to lenders as a result of an “essentially unrestricted line of credit score.”
Alameda took $14 billion in overall from buyers, but “some we were being able to pay out back,” Ellison testified. She also explained she despatched modified harmony sheets to buyers and creditors at the direction of Bankman-Fried so Alameda Investigate could “look less risky than it was.”
Ellison has pleaded responsible to various fees and acknowledged plea agreements, together with Gary Wang, co-founder and CTO of FTX, and Nishad Singh, director of engineering at FTX. Wang testified in the demo from October 5 until midday on Tuesday.
Ellison and Bankman-Fried dated for a variety of many years on and off, she mentioned, incorporating that they initially met even though she was an intern at quantitative investing organization, Jane Street.
Bankman-Fried is on trial for alleged fraud, between other expenses.
This story is developing. Updates to follow.
