The federal court of New York and Judge Lewis Kaplan's courtroom saw massive revelations on Sam Bankman-Fried's criminal trial this week, and this was because of the three days of testimony from his ex-girlfriend, Caroline Ellison. The former Alameda Research CEO and previous partner of the controversial executive has given the world shocking revelations of unknown events or happenings within the company.
Ellison's testimony was expected to reveal massive details, particularly as she pleaded guilty and agreed to fully cooperate with the justice system.
Sam Bankman-Fried's Trial: First Week with Caroline Ellison
Caroline Ellison is a star witness, and this was proven in her recent appearance in the New York courtroom where she detailed massive details from SBF's previous operations, including his personality and beliefs. The statements from Ellison revealed that Bankman-Fried is a "utilitarian," wherein the executive uses everything in his power to make results.
According to her, the rules including "don't lie" or "don't steal" are not in his practice.
Not only did she reveal significant parts of SBF's coercion of her to do illegal things as CEO of Alameda Research, but also their relationship which she claimed ended in 2022.
Ellison also revealed how Bankman-Fried instructed her to get funds from FTX customers to pay off Alameda's loans to investors and lenders, effectively keeping the companies afloat.
Read also: Sam Bankman-Fried Trial: FTX Co-Founder Accuses Alameda Research of 'Taking Customers' Money'
Shocking Revelations in SBF's Criminal Trial
Apart from the technicalities, Ellison also revealed how Sam Bankman-Fried initially thought that he could become the President, particularly for the United States. In a quote by AP, the star witness said that SBF thought he had a 5 percent chance.
Moreover, he thought that one of his most valuable traits was his hair, yes, Bankman-Fried's crowning glory, which led to him getting "higher bonuses" and was part of FTX's narrative and image. SBF maintained his hair and seldom cut it.
Caroline Ellison and Sam Bankman-Fried
Caroline Ellison first testified for Sam Bankman-Fried earlier this week, as the lawsuit began to commence its trial during the first week of October which paved the way for the many details to be revealed to all. This trial centers on the sole executive of FTX who maintained his innocence throughout the investigation and initial proceedings, with SBF now facing criminal charges against his name.
In an already-dragged-out timeline for FTX, Sam Bankman-Fried maintains his innocence after he pleaded not guilty in his plea hearing, which led to this criminal trial.
Before this hearing, Sam Bankman-Fried's other associates over at FTX and Alameda Research already pleaded guilty to the almost same cases filed against them, with Caroline Ellison also admitting her actions.
The second week of SBF's criminal trial saw massive revelations thanks to the testimonies from Caroline Ellison, centering on the many actions that he led the former Alameda CEO to do. From his "utilitarianism" down to his beliefs that he could be President of the United States, Bankman-Fried sees massive insider information revealed in court because of his ex-girlfriend's full cooperation.
Read also: Caroline Ellison Testifies: Alameda Took Money from FTX Under Sam Bankman-Fried's Direction
