Former CEO of Alameda Research blames Sam Bankman-Fried for creating justifications for criminal acts
NEW YORK — Sam Bankman-Fried’s former top executive blamed the FTX founder on Wednesday of corrupting her values so she could lie and steal and create false balance sheets, things she told jurors at his New York City trial that she never imagined doing before joining his cryptocurrency empire.
Assistant U.S. Attorney Danielle Sassoon asked Ellison how she was affected by Bankman-Fried’s philosophy.Also see: Michael Lewis on the outrage over his Sam Bankman-Fried portrayal: ‘It sells the book’ Earlier in her testimony, Ellison revealed that she doctored balance sheets to try to hide that Alameda was borrowing about $10 billion from FTX customers in June 2022, when the cryptocurrency market was falling dramatically and some lenders were demanding that Alameda return their investments in full.
“In June 2022, we were in the bad situation and I was concerned that if anybody found out, it would all come crashing down,” she said.
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