Ex-FTX CEO Bankman-Fried Accused of Fraud, Harbored Presidential Aspirations, Ex-Partner Alleges
Summary:
Caroline Ellison, former romantic and business partner of Sam "SBF" Bankman-Fried, the ex-CEO of FTX, has alleged in court that Bankman-Fried aspired to be the U.S. president. This revelation came post their break-up but while they were still jointly leading Alameda Research and FTX until November 2022. Ellison confessed to participating in fraudulent activities at Alameda under Bankman-Fried's direction, which led to the hedge fund extracting around $14 billion from the exchange. Her testimony forms part of a plea agreement amidst Bankman-Fried's ongoing criminal trial.
In a recent court appearance, Caroline Ellison, former companion and business partner of Sam "SBF" Bankman-Fried, ex-CEO of FTX, alleged that Bankman-Fried harbored aspirations to ascend to the presidency of the United States. Ellison reportedly claimed on October 10th, during her testimony against Bankman-Fried, that his desire was to attain the role of U.S. President in future years. This revelation emerged following the dissolution of their romantic union, even as they maintained their joint professional affiliations with Alameda Research and FTX through to November 2022. Ellison acknowledged her involvement in fraudulent activities within Alameda under Bankman-Fried's guidance, alleging that he devised the systems that allowed the hedge fund to extract approximately $14 billion from the exchange. Her evidence produced on day five of Bankman-Fried's ongoing criminal trial forms part of a plea deal with the prosecution team. As this story unfolds, additional details will be reported as they come to light.
Published At
10/10/2023 6:35:47 PM
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