"Caroline Ellison and Sam Bankman-Fried's Decades of Deception Unveiled"

1 min read
Source: The New York Times
"Caroline Ellison and Sam Bankman-Fried's Decades of Deception Unveiled"
Photo: The New York Times
TL;DR Summary

Caroline Ellison, a former top adviser to cryptocurrency mogul Sam Bankman-Fried, testified in court that she had lied and circulated "dishonest" financial documents at his request, misleading lenders and the public about his businesses. Ellison, who dated Bankman-Fried on and off for years, pleaded guilty to fraud and conspiracy and is cooperating with prosecutors. Bankman-Fried is on trial for orchestrating a scheme to defraud lenders and steal billions of dollars from FTX customers. The trial has become a focal point for examining high-risk practices in the crypto industry.

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