On the third day of Caroline Ellison’s stunning testimony at Sam Bankman-Fried’s trial on billion-dollar fraud charges, his lawyers cast her as the true leader of Alameda Research to make a case that the fallen FTX founder wasn’t responsible for the companies’ collapse.
Ellison, 28, was CEO of the hedge fund Alameda Research and Bankman-Fried’s sometimes-girlfriend. She’s the prosecution’s star witness at his Manhattan federal court trial. Bankman-Fried, 31, faces seven counts on fraud and conspiracy charges relating to his management of the cryptocurrency exchange FTX. He has pleaded not guilty.
