Inside Caroline Ellison’s Explosive Testimony — Former Alameda CEO Accuses SBF of Directing Fraud at FTX
In bombshell testimony on Tuesday, Caroline Ellison, former CEO of Alameda Research, accused Sam Bankman-Fried of directing her and others to commit fraud under his leadership at FTX and Alameda. Taking the stand in a red dress, Ellison stated “Alameda took several billions of dollars from FTX customers and used it for investments.” Caroline Ellison Exposes Alleged FTX Fund Siphoning and Political Payoffs According to reporting by Matthew Russell Lee of Inner City Press , who streamed the proceedings from the courtroom, Caroline Ellison detailed how she and her colleagues improperly used billions in customer funds from FTX to pay back loans and make speculative investments for Alameda Research. Lee reported that Ellison claimed she engaged in fraud at Sam Bankman-Fried ‘s direction, alleging he “set up the systems and told us to take the money.” The former Alameda CEO estimated that between $10 to $20 billion in FTX customer funds were deposited into Alameda accounts and used for