Insider Testimony Exposes Alleged Criminal Enterprise in Sam Bankman-Fried Trial

Caroline Ellison, the star witness in the trial against Sam Bankman-Fried, testified about the alleged criminal activities within the crypto empire they helped build. Ellison described how she distributed dishonest balance sheets to lenders, concealing billions of dollars in funds siphoned from FTX customer accounts. Prosecutors claim that Bankman-Fried stole billions of dollars in FTX customer funds to cover losses and enrich himself and others. Ellison's testimony revealed that Bankman-Fried actively oversaw both Alameda Research and FTX, and that he ordered his inner circle to engage in criminal activity. Bankman-Fried, who pleaded not guilty, could face 110 years in prison if convicted.