FTX's Caroline Ellison Testifies Sam Bankman-Fried Ordered Her to Steal Billions from Customers to Cover Alameda Debt

Caroline Ellison was a top deputy of Sam Bankman-Fried and his ex-girlfriend. She testified that he directed her to steal billions from FTX customers.

Ellison said Alameda Research took around $14 billion from FTX customers to repay Alameda's debts.

She sent false information to Alameda's lenders on Bankman-Fried's orders to make Alameda's finances look better.

Ellison said Bankman-Fried set up the systems allowing Alameda unlimited access to FTX customer funds.

When auditors raised concerns, Ellison said Bankman-Fried told her "The auditors aren’t going to look at that.”