What to expect when FTX founder Sam Bankman-Fried’s trial resumes for day 5
Disgraced FTX founder Sam Bankman-Fried’s trial will resume for its fifth day on Oct. 10, with prosecutors expect ed to question his ex and former colleague, Caroline Ellison. The trial , which is set to last six weeks, will continue on Tuesday with key testimony expect ed from Ellison, who is regarded as a star witness to the goings-on at Alameda Research, where she held the title of CEO. Alameda, a sister firm to FTX, allegedly siphoned off $8 billion in customer money from FTX and used that cash for personal means. Ellison, along with former FTX CTO Gary Wang, pleaded guilty in December. Since then, they have been working with the U.S. attorney’s office in Manhattan. You might also like: Caroline Ellison admits to stealing billions of dollars from FTX customers Observers of the trial should expect Ellison to discuss the sequence of events from 2019 to 2022, where FTX allegedly allowed Alameda to receive billion-dollar loans without posting collateral. The ag...