by Frank Bergman, Slay News:
Bankrupt cryptocurrency exchange FTX used customer funds to bribe corrupt Chinese officials, former CEO Sam Bankman-Fried’s ex-girlfriend and accomplice has testified in court.
Caroline Ellison stated in court that Bankman-Fried had directed her to commit fraud-related crimes.
She also said Bankman-Fried, the Democratic Party’s second-largest donor in 2022, used loans to make political donations.
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Ellison told the court that $100 million in customer deposits were used to bribe Chinese officials.
Bankman-Fried was once again on the receiving end of the blame for the catastrophe that was the collapse of FTX.
The disgraced Democrat donor had also just sat through a few days of colleagues Adam Yedidia and Gary Wang testifying against him.
Ellison has been complying with federal authorities.
She is expected to receive a plea deal in exchange for her cooperation in taking down her ex-boyfriend.
At the beginning of her testimony, Ellison confirmed that she had committed fraud, conspiracy to commit fraud, and money laundering.
She pled guilty to the charges in December 2022, according to the Epoch Times.
“He directed me to commit these crimes,” Ellison reportedly said in court.
Ellison served as the CEO of Alameda Research, FTX’s sister hedge fund.
It was also noted that she was paid more than $20 million in salary and bonuses in 2021 as head of the company.
