Unchained SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?
Oct 13, 2023
In a gripping trial segment, Caroline Ellison stood firm under cross-examination, despite attempts by the defense to cast doubt on her testimony. She revealed Sam Bankman-Fried's plans to acquire Telegram while Alameda misappropriated $14 billion in customer funds. The defense struggled to prove Ellison was in charge, as she clarified SBF's control over the firm. Testimony from Christian Drappi reinforced her statements, while Zac Prince, BlockFi's founder, gave a tantalizing glimpse of his own insights to come.
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Telegram Investment
- SBF planned a large Telegram investment around the time Alameda borrowed $14 billion of FTX customer funds.
- This was revealed during Caroline Ellison's cross-examination.
Aimless Defense
- The defense's cross-examination of Ellison seemed aimless, marked by repetitive questions and unclear conclusions.
- They tried to portray Ellison as in charge, but she maintained SBF had ultimate control.
Ellison's Resignation Attempt
- Ellison considered resigning, but SBF convinced her to stay, emphasizing her importance to Alameda.
- This highlights SBF's influence and control over Ellison and the firm.