Caroline Ellison continued her testimony against Sam Bankman-Fried on Oct. 11, claiming the former FTX CEO told her to conceal certain information on Alameda's balance sheet.
The former CEO testified that she had provided SBF seven options for spreadsheets with misleading information on Alameda’s financials to present to Genesis lenders.Bankman-Fried directed her to create “alternative” balance sheets on Alameda’s use of crypto exchange FTX’s funds. She reportedly testified that she had provided seven spreadsheets, one of which SBF presented to Genesis. The document did not reveal that Alameda had borrowed $10 billion from FTX.
Ellison returned to the witness stand at SBF’s trial after first appearing in the courtroom on Oct. 10. In contrast to her earlier testimony, prosecutors questioned the former Alameda CEO about her feelings surrounding her deception about the firm’s financials: The former CEO answered in the affirmative when prosecutors asked her if she considered her actions to be “dishonest” and “wrong.” Ellison has largelyleading to the events surrounding the collapse of FTX on SBF due to his alleged direction surrounding the misuse of customer funds, while defense lawyers seem to be framing the former Alameda CEO as the instigator.
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