Caroline Ellison, the tech executive who ran Sam Bankman-Fried 's hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. She also revealed that her former boss thought he might be U.S. president someday.
Caroline Ellison former CEO of Alameda Research founded by Sam Bankman-Fried exits the Manhattan federal court after testifying on Tuesday, Oct. 10, 2023, in New York. NEW YORK — Caroline Ellison, the tech executive who ran Sam Bankman-Fried’s hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. She also revealed that her former boss thought he might be U.S. president someday.
Shortly after Ellison’s highly anticipated turn on the witness stand began, she was asked to identify Bankman-Fried in the courtroom. The bespectacled Ellison stood and scanned the courtroom for a long minute, at first unable to spot him, before gesturing his way with a flip of her hand and saying he was “over there wearing a suit.”
Bankman-Fried was one of the world’s wealthiest people on paper, with an estimated net worth of $32 billion, when his cryptocurrency businesses collapsed as investors and customers sought to empty their accounts last November. Bankruptcy proceedings followed as prosecutors alleged that stolen funds were used to fund his businesses, make donations and contribute to political campaigns in the hopes of influencing cryptocurrency regulation in Washington.
As Ellison testified, several of her friends or online fans were in attendance. In an overflow courtroom where spectators could watch on a television monitor, some of them with smiles on their faces, rushed toward a screen to see her up close. Ellison said she asked Bankman-Fried why he had not warned her and he “apologized and he said that he hadn’t known how to tell me.”
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