Former Alameda Research CEO Caroline Ellison has shifted all blames to ex-FTX executive Sam Bankman-Fried. On day 5 of the trial, Ellison took the stand to say SBF “directed” her to commit crimes. Interestingly, she spent a stark 45 seconds to identify the accused, spurring laughter in the gallery. counts of crimes. The case is heard in a Manhattan court.
Admitting to having pleaded guilty to four federal offenses, the former CEO of FTX’s sister firm Alameda Research took several billion dollars’ worth of FTX customer money for investments and to cover its loans. Worse, she indicated that SBF established systems to help steal that money , by allowing the negative balance feature that overlooked the hedge fund’s $65 billion line of credit.
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