Caroline Ellison, former CEO of Alameda Research founded by Sam Bankman-Fried, exits Manhattan federal court after testifying, Tuesday, Oct. 10, 2023, in New York. 's former top executive blamed the FTX founder on Wednesday of corrupting her values so she could lie and steal and create false balance sheets, things she told jurors at his New York City trial that she never imagined doing before joining his cryptocurrency empire.
Assistant U.S. Attorney Danielle Sassoon asked Ellison how she was affected by Bankman-Fried's philosophy.After several hours on the witness stand, Ellison got choked up as she described the final days of FTX and Alameda, saying that early November period before the businesses filed for bankruptcy “was overall the worst week of my life.”
She said she once created seven different balance sheets after Bankman-Fried directed her to find ways to conceal things that might look bad to Alameda's lenders.She said a few years earlier, she would never have believed that she'd one day be sending false balance sheets to lenders or taking customer money, “but I think it became something I became more comfortable with as I was working there.
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