Key Witness in Bankman-Fried Fraud Case Testifies

Need2Know Headlines

Key witness in the trial against FTX Caroline Ellison, who was the former CEO of hedge fund. Alameda Research took the stand today. She told the New York Court that Sam Beman Free told her to commit the crimes that led to the collapse of FTX. She said Alameda took several billion dollars from FTX customers and used it for its own investments. Adding that it also used the funds to pay off lenders after FTX collapsed. Ellison pleaded guilty and agreed to co operate with federal prosecutors. Sam Ban Fried has pleaded not guilty to seven federal charges including securities fraud, wire fraud and money laundering.