Caroline Ellison, the former CEO of crypto trading firm Alameda Research, testified in the trial of Sam Bankman-Fried, accusing the FTX founder of directing her to commit crimes. Ellison, who has pleaded guilty to fraud charges, claimed that Bankman-Fried instructed her to siphon billions of dollars from FTX to make high-risk investments and repay loans. She admitted to falsifying balance sheets to deceive lenders and blamed Alameda’s draining of funds for FTX’s collapse. Ellison’s testimony directly implicates Bankman-Fried in the alleged fraud and provides significant evidence against him. The trial is expected to continue for several more weeks, with more witnesses expected to testify. If convicted on all counts, Bankman-Fried faces up to 115 years in prison.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	0
People	Caroline Ellison, Gary Wang, Sam Bankman-Fried
Companies	FTX, Jane Street, Alameda Research
Currencies	None Trading
Securities	None