Sam Bankman-Fried trial: former Alameda CEO Caroline Ellison to testify

Sam Bankman-Fried’s former love interest and CEO of Alameda Research, Caroline Ellison, is expected to testify in court, potentially revealing detailed information on the fraudulent use of customer funds.for former FTX exchange CEO Sam “SBF” Bankman-Fried continues on Oct. 10, with all eyes on the testimony from key witness Caroline Ellison.

Ellison is a former romantic partner of SBF and the former CEO of the FTX-affiliated hedge fund Alameda Research, which also filed for Chapter 11 bankruptcy in November 2022. Given Ellison’s former positions, she was a part of Bankman-Fried’s inner circle. In her testimony, prosecutors and the presiding judge over the case, Lewis Kaplan, expect her to provide details regarding the shuffling of customer funds between FTX and Alameda Research.Particularly anticipated will be Ellison’s commentary on a meeting in November 2022, during which she admitted to employees of Alameda that Bankman-Fried had given her the go-ahead to use funds for the purposes mentioned above.

Shortly after both pleaded guilty, on Dec. 22, they were hit with additional fraud charges by the United States Securities and Exchange Commission and the Commodities Futures Trading Commission . The SEC alleged that Ellisonwith the Office of the U.S. Attorney for the Southern District of New York, which meant full disclosure of information and documents demanded by prosecutors during the trial.

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