1 year ago
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NEW YORK -- Caroline Ellison, an insider to Sam Bankman-Fried’s crypto trading empire who pled blameworthy to helping orchestrate an alleged $8 cardinal fraud, has begun testifying against her ex-boyfriend and erstwhile colleague.
Ellison, 28, is the government’s highly anticipated prima witnesser successful the six-week proceedings of Bankman-Fried. She was the CEO of Alameda Research, the hedge money prosecutors accidental stole billions of dollars from customers of its sister company, the cryptocurrency speech FTX. (Read the government's indictment here.)
Her proximity to Bankman-Fried’s concern and idiosyncratic lives is astir definite to springiness the assemblage its closest look yet astatine the decision-making that led to FTX’s epic illness past November. She has been cooperating with the authorities since astatine slightest December, erstwhile she pled blameworthy to an array of fiscal crimes stemming from her clip astatine Alameda.
Ellison took the basal Tuesday instantly pursuing grounds from chap insider Gary Wang, the quiescent coder who past week told the tribunal helium wrote overmuch of the programming that enabled FTX's fraud.
Later contiguous oregon Wednesday, Bankman-Fried's defence squad volition apt cross-examine Ellison with an oculus toward discrediting her. In his opening statement pb lawyer Mark Cohen said Ellison ignored instructions from Bankman-Fried to spot hedges connected Alameda's trading that could person staunched immoderate of its bleeding.
The excitement astir her grounds was palpable successful the property corps. Reporters began arriving astatine the Daniel P. Moynihan national courthouse good earlier sunrise for a accidental to spot Ellison successful person.
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