Former Alameda CEO Admits to Fraud, Conspiracy, Money Laundering at Direction of Ex-Boyfriend Sam Bankman-Fried

Caroline Ellison, former Alameda CEO, testified she committed fraud, conspiracy, and money laundering at the direction of Sam Bankman-Fried.

Ellison and Bankman-Fried dated for a couple years when she was Alameda CEO. She didn't recognize him at first when asked to identify him in court.

Alameda took billions from FTX customer funds to cover its losses and loans, at Bankman-Fried's direction per Ellison.

The two started sleeping together in 2018, began officially dating in 2021, then broke up in spring 2022.

In 2021, Alameda used $1 billion in FTX customer funds to buy out Binance's equity in FTX, approved by Bankman-Fried.