Bombshell revelations came through during the second-day testimony of Caroline Ellison in the US v Samuel Bankman-Fried (SBF) trial, including that she and her ex-boss and ex-boyfriend lied to customers and banks for years.
Ellison said SBF instructed his employees and her to
- Bribe Chinese officials and gain access to frozen crypto funds.
- Use Thai prostitutes’ IDs for trading.
- Fudge numbers in FTX sister company Alameda Research’s balance sheets to show profitability to continue receiving billions of dollars in loans. She also created multiple versions of Alameda’s balance sheets for investors.
She further added that at one point SBF wanted to borrow money from Saudi Arabia's Crown Prince, Mohammed bin Salman, to repay FTX customer funds. The infamous crypto platform founder was very concerned about his public image and felt his unkempt hair was “very valuable,” said Ellison.