Caroline Ellison arrives at New York City court Oct. 10, 2023
Caroline Ellison seen crying in court sketches after emotional testimony at SBF trialInvestment titan BlackRock has taken massive hits because of its use of ESGFallen crypto king Sam Bankman-Fried ignored rules like “don’t lie” and “don’t steal” because they didn’t fit into his “utilitarian” moral code about how to achieve the “greater good,” his ex-girlfriend testified at his fraud trial Wednesday.
The accused fraudster’s cavalier attitude toward lying — so long as he could achieve his “utilitarian” goals — made her more likely to bend the truth as well, she said.— who served as CEO of Alameda during FTX’s November 2022 collapse — also testified that she followed Bankman-Fried’s orders to doctor balance sheets sent to a lender that hid Alameda’s multi-billion-dollar dip into FTX users’ wallets.
Genesis had been a heavy investor in Alameda, and at the time was considering whether to pull out $500 million of its funds held with Bankman-Fried’s company. Alameda, Genesis and FTX all later declared bankruptcy.Bankman-Fried ignored rules like “don’t lie” because all he cared about was his “utilitarian” moral code, Ellison said.
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