Former Alameda Research CEO Caroline Ellison said she knowingly FTX misled lenders.
Mintz & Gold partner and former Madoff lawyer Ira Lee Sorkin discusses Sam Bankman-Fried's legal troubles and what's next for him and his cronies on 'The Claman Countdown.'misled lenders about how much the company was borrowing from the cryptocurrency exchange.
"I am truly sorry for what I did. I knew that it was wrong," she said, according to a transcript of the hearing in which she acknowledged the financial ties between her company and FTX. "From 2019 through 2022, I was aware that Alameda was provided access to a borrowing facility on FTX.com, the cryptocurrency exchange run by Mr. Bankman-Fried," Ellison said. "In practical terms, this arrangement permitted Alameda access to an unlimited line of credit without being required to post collateral, without having negative balances and without being subject to margin calls on FTX.com’s liquidation protocols.
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