Caroline Ellison, former girlfriend of SBF and head of Alameda, claims that everything is controlled by SBF
Caroline Ellison, former girlfriend of SBF and former head of Alameda, a sister company of FTX, appeared in court today at the SBF trial. She accused FTX founder SBF of instructing her to misappropriate customer funds in court.
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SBF's Ex-Girlfriend: He Instructed Me to Commit Fraud
Caroline Ellison stated in court that she conspired to commit fraud with other senior executives, including SBF, and was one of the senior executives, including former CTO Gary Wang, who pleaded guilty.
Caroline Ellison told the judge that she met SBF while working at Wall Street trading firm Jane Street and they dated for a few years.
It was SBF who instructed me to commit the crime, obtaining billions of dollars from FTX customers and using it for investments.
Alameda's Debts Amount to $14 Billion
Caroline Ellison informed the judge that SBF had set up a system that allowed Alameda to take money, ultimately spending around $14 billion to repay lenders.
Why is FTX Insolvent?
Caroline Ellison told the judge that the reason FTX was unable to repay users last November was because they needed to repay lenders.