Sam Bankman-Fried’s ex-girlfriend is “collaborating with prosecutors” against him to “advance her narrative”.
Sam Bankman-Fried’s ex-girlfriend is ‘working with prosecutors’ against him to ‘further her narrative’ days after hiring a top lawyer
- Caroline Ellison, the CEO of Alameda Research, appears to be working with the federal government against her ex-boyfriend, Sam Bankman-Fried
- Ellison, 28, was appointed by Bankman-Fried to head the multibillion-dollar company in 2021, despite having no expert knowledge of cryptocurrencies
- Alameda Research is allegedly behind the collapse of FTX and mooted client funds
- Ellison hired a legal team while prosecutors investigate FTX’s collapse
- Bankman-Fried was arrested in the Bahamas last week and is due to appear in court to announce he will no longer contest his extradition
Sam Bankman-Fried’s ex-girlfriend is ‘cooperating with officials’ to ‘further her narrative’ days after recruiting a legal team and a top attorney.
Caroline Ellison, 28, is CEO of Alameda Research, another company founded by Bankman-Fried that has been accused of playing risky trades with FTX client funds.
With Bankman-Fried scheduled to appear in a Bahamas courthouse on Monday following his arrest last week, Ellison appears to be working with officials against her ex-lover.
Former US Attorney Marc Litt commented on the matter, saying he wouldn’t be surprised if Ellison would cooperate with investigators because she had “a choice to make.”
Bankman-Fried is behind what prosecutors are calling “one of the largest financial scams in American history” following the collapse of his once-billion-dollar digital currency exchange, FTX.
Caroline Ellison, the CEO of Alameda Research, appears to be working with the federal government against her ex-boyfriend, Sam Bankman-Fried
Former US Attorney Marc Litt weighed in on the matter, saying he would not be surprised if Ellison cooperated with officials
Litt appeared on Fox and Friends Weekend on Sunday to speak to Will Cain about Ellison’s next steps in the Bankman Fried scandal.
Bankman-Fried was arrested in the Bahamas on Monday and charged with money laundering and fraud. He is currently awaiting extradition to the United States.
Ellison and Bankman-Fried were previously in a relationship and lived in Bankman-Fried’s $40 million penthouse in the Bahamas along with eight other senior FTX and Alameda employees.
The disgraced FTX CEO previously blamed the disaster on Alameda Research, the trading firm he founded in 2017 and run by Ellison.
Bankman-Fried, which owned a majority stake in Alameda, installed Ellison as CEO of the multi-billion dollar fund in October 2021 despite her limited professional trading experience.
Apparently, he accepts FTX, which has lent Alameda billions of dollars in client funds, without their knowledge or permission. The crisis at FTX was sparked when customers rushed to withdraw their funds but the company was unable to cash out.
Litt said he wouldn’t be surprised if Ellison worked with the federal government to save himself.
“She was the CEO of a company that appears to be intimately involved in the alleged fraud and she is … in the government’s crosshairs … and she has a decision to make.”
Ellison prepares for an investigation as prosecutors investigate whether FTX misappropriated billions of dollars in customer funds by wiring them to Alameda.
She has remained silent and hired Stephanie Avakian, former director of enforcement at the US Securities and Exchange Commission.
“At this point, there’s a little race for prosecutors because the government needs people,” Litt said. ‘
“It’s in her interest to continue her narrative and tell her story before everyone else the government talks to points the finger at her, so that she has every incentive to work together and reap the benefits of working together.”
Bankman-Fried was arrested in the Bahamas last week and is due to appear in court to announce he will no longer contest his extradition. Pictured: Bankman-Fried is escorted out of the Magistrates Court building after his arrest December 13
His ex-girlfriend has apparently turned against him since his arrest. He previously blamed Ellison for the downfall of FTX
Bankman-Fried, who owned a majority stake in Alameda, installed Ellison as CEO of the multi-billion dollar fund in October 2021
Bankman-Fried will appear in court on Monday to agree to extradition to the US after trying to delay his return.
Litt believed the FTX owner had no chance of staying in the Bahamas based on his charges.
“The defendant has rights,” Litt said. “There is a process that must be followed and the defendant has a difficult decision to make. He can either choose to fight extradition, or he can opt out of that process and come to the United States voluntarily
He added: “It’s very difficult to defend yourself against these types of allegations from prison. It is doubly difficult to do this when you are in a foreign country.’
Bankman-Fried faces up to 115 years in prison if ultimately convicted on all eight counts he faces in the United States, although each sentence would ultimately be decided by a judge based on a number of factors.
https://www.dailymail.co.uk/news/article-11552167/Sam-Bankman-Frieds-ex-girlfriend-working-prosecutors-against-spin-narrative.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Sam Bankman-Fried’s ex-girlfriend is “collaborating with prosecutors” against him to “advance her narrative”.