Bankman-Fried Didn't Believe in Rules Like 'Don't Steal,' Star Witness Says

Enlarge / Ancient FTX CEO Sat Bankman-Fried arrived For A bail audience has WE District Court on August 11, 2023, In New York City. Getty Pictures | Michael Saint Jacques

On three days of testimony In Sat Bankman-Fried's criminal trial, Caroline Ellison provided developer glimpses Since THE years In which She was the SBFs on and off girlfriend And A of her high frames.

Ellison's testimony describe Bankman-Fried's belief that he could become WE president, And her belief that her hair "was A important part of FTX narrative And picture." She Free details on A failed attempt has to use the prostitutes' identities has open funds frozen by THE Chinese government, And on Bankman-Fried's habit of describing hypothetical piece of money reversals In which all same THE fate of THE entire world - would it be be put has risk.

She Also describe how Bankman-Fried had A "utility" philosophy In which rules as "don't do it lie" And "don't do it fly" did not adjust In her moral frame.

Bear witness has A federal court In New York, Ellison would have said Bankman-Fried was "very ambitious" And that he "thought there was A 5 percent chance he would be become president a few day." And by "president," he did mean president of THE United States, according to has A courtroom exchange reported by THE Partner Press:

"When You say president, What are You referent has?" request Assistant WE Lawyer Danielle Sassoon.

"Of THE United States," Ellison answered.

The SBFs earn money hair

Bankman-Fried believed that her neglected head of hair was precious has him And FTX financially, Ellison testified. "He said he thought her hair had has been very precious," She said, according to has THE Guardian. "He said Never Since Jane Street [A hedge funds they both work has], he thought he had got upper bonuses because of her hair And that he was A important part of FTX narrative And image."

Ellison said that Bankman-Fried try has cultivate A picture as A "clever, competent, somewhat eccentric founder," according to has Reuters. For A time he drove A company owned luxury car In THE Bahamas but switched has A Toyota Corolla. "He said he thought he was better For her picture," Ellison said.

"I would be say he look at as he doesn't put A plot of effort In her staff appearance. He dressed sort of carelessly And doesn't cut her hair often," She Also said. Bankman-Fried did get A Haircut Before THE trial has started.

Bankman-Fried East focused towards six charges For defraud FTX And The Alameda clients And Investors, And A charge For conspiracy has commit money whitening. THE Seven charges' maximum sentences add up has 110 years. He faces five additional criminal charges In A separated trial program For April 2024.

Ellison was CEO of Alameda Research, A crypto hedge funds And affiliate of cryptocurrency exchange FTX, but She testified that all major the decisions were Ultimately do by Bankman-Fried. Ellison admitted has commit fraud And said that Bankman-Fried "directed Me has commit these crimes."

FTX went bankruptcy In November 2022. A charge alleged that Bankman-Fried "diverted And diverted FTX customer deposits And used billion of dollars In stolen funds... has enrich himself; has support THE operations of FTX; has funds speculative adventure investments; has help funds on A hundred million dollars In campaign contributions has Democrats And Republicans has seek has influence cryptocurrency regulation; And has pay For The Alameda Operating costs." He was Also accused of manufacturing "FAKE And fraudulent declarations And representations has FTX investors And The Alameda lenders."

Using the prostitutes' identities

In 2021, When on $1 billion value of Alameda funds were frozen on Chinese crypto Exchanges during A money whitening investigation, Bankman-Fried go...