Caroline Ellison was Sam Bankman Fried's deputy and onetime romantic partner. Today she takes the stand to testify against him.
Caroline Ellison was one of Sam Bankman-Fried’s top deputies and his onetime romantic partner. On Tuesday she could torpedo his defense.
Jurors listen to testimony during the fraud trial of Sam Bankman-Fried in this courtroom sketch. REUTERS/Jane Rosenberg Wang indicated in his testimony that Ellison knew, at least as early as June 2022, that the arrangement with FTX allowed Alameda, which also borrowed money from various lenders, to run up negative balances, even though Alameda was tasked with holding FTX deposits it its bank accounts.
"Where was the money going to come from to repay those lenders?" assistant US attorney Nicholas Roos asked. Near the end, in November 2022, Ellison provided an explanation of what happened to a group of employees, according to reporting in The Wall Street Journal and The Guardian.
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