SBF’s Lawyers Fail To Shake Ellison’s Account About FTX Crimes

Caroline Ellison emerged from hours of questioning by Sam Bankman Fried’s lawyer with her story largely intact, as the defense struggled to shake her testimony that the FTX co-founder masterminded a multibillion-dollar fraud.

Ellison, the government’s star witness against her former boss and boyfriend, appeared relaxed in the face of the high-stakes cross-examination during her third day on the stand in Bankman-Fried’s fraud trial in Manhattan federal court. Prosecutors claim the FTX co-founder orchestrated a scheme to funnel customer funds from the cryptocurrency exchange to Alameda Research, its affiliated hedge fund, where Ellison was chief executive officer.

Caroline Ellison exits court in New York, on Oct. 12.

Photographer: Stephanie Keith/Bloomberg