The former girlfriend and co-conspirator of the FTX founder described a bribery scheme involving a Chinese government official and crypto accounts of Thai prostitutes.
Caroline Ellison, former chief executive officer of Alameda Research LLC, leaves Manhattan Federal Court after testifying during the trial of FTX CEO Sam Bankman-Fried.afternoon in SDNY’s courtroom 26A, Caroline Ellison cried on the witness stand after reading a text message she had sent tolast November. It was Ellison’s second day of testimony against Bankman-Fried, her former boss and boyfriend, who faces seven counts related to fraud. “That was overall the worst week of my life,” she sobbed.
One of the most shocking revelations included testimony that Bankman-Fried and co-conspirators bribed a Chinese official $100 million in 2021 to unfreeze $1 billion worth of Alameda funds that had been stuck on the China-based crypto exchange OKX. When legal strategies didn’t work, Ellison said they tried to use various trading strategies to move funds from the frozen accounts into “other accounts.” These other accounts were set up using the identities of sex workers, Ellison says she was told.
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