Alameda’s Former CEO Ellison Said She, Bankman-Fried Misled FTX Lenders

Ellison said Alameda Research got special treatment from FTX
Ex-Alameda CEO Ellison told prosecutors she knew it was wrong

Ellison Admits She, Bankman-Fried Misled FTX Lenders

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ava Benny-Morrison, Hannah Miller, and Chris Dolmetsch

December 23, 2022 at 7:55 PM UTC

Updated on

December 23, 2022 at 8:56 PM UTC

This article is for subscribers only.

Former Alameda Research CEO Caroline Ellison said she and FTX co-founder Sam Bankman-Fried knowingly misled lenders about how much the now-bankrupt trading firm was borrowing from the cryptocurrency exchange.

Ellison gave her first public account of her actions in a Dec. 19 plea hearing in Manhattan federal court. “I knew that it was wrong,” she said, according to a transcript of the hearing. FTX co-founder Gary Wang also gave a statement that day.