SBF ‘s former girlfriend Caroline Ellison has flipped even further on the disgraced fallen crypto fraudster. According to further testimony provided to federal officials, Ellison has admitted to the fact that she knew both FTX and Alameda Research both received billions in loans that they both concealed. It is the latest major allegation against SBF and FTX and its affiliates as SBF prepares for his monster trial.
The news comes from a reported transcript in the case that was unsealed Friday. Revelations in the transcript suggest that SBF ‘s massive scheme went much further than initially reported on and as we have reported in this very news magazine.
“We prepared certain quarterly balance sheets that concealed the extent of Alameda’s borrowing and the billions of dollars in loans that Alameda had made to FTX executives and to related parties,” Ellison told U.S. District Judge Ronnie Abrams in Manhattan federal court, according to the transcript revealed on Friday afternoon.
In other testimony, Gary Wang his former right-hand tech wizard of sorts testified to federal authorities in a 19 December transcript that he altered the of FTX ‘s website to allow borrowing to happen. Those changes were done so that the Alameda side of the borrowing scheme could do its dirty deeds without being noticed. All the while Wang testified that the twosome Ellison and SBF had continued to tell others; investors, and the public that no such special privileges existed at the tim.