Caroline Ellison Holds Firm as She Testifies That Bankman-Fried Allegedly Masterminded Multibillion-Dollar Fraud

Former CEO of Alameda Research. Caroline Ellison was the star witness for the prosecution against Sam Bankman-Fried in his ongoing fraud trial in Manhattan federal court. Ellison spent hours being questioned and cross-examined by Bankman-Fried's defense lawyers but maintained her account that Bankman-Fried masterminded a multibillion-dollar fraud using customer funds from the FTX exchange. Ellison appeared relaxed during the high-stakes cross-examination and did not waver from her previous statements implicating Bankman-Fried in the fraud. The defense attempted to shift blame for the FTX collapse solely onto Ellison and Alameda Research but did not appear to successfully undermine her testimony based on the reporting.