Secret Alameda Recording Unveils Ellison’s suspicious involvement in FTX collapse

A secret recording of Alameda team meeting leads to raises questions on Caroline Ellison’s suspicious involvement in FTX collapse.
Secret Alameda Recording Unveils Ellison’s suspicious involvement in FTX collapse
Secret Alameda Recording Unveils Ellison’s suspicious involvement in FTX collapse

On the third day, just as Alameda CEO Caroline Ellison’s testimony drew to an end, Christian Drappi, a former software developer with Alameda Research, offered his testimony in the SBF trial.

After the liquidity situation at the FTX exchange gained attention in November 2022, Caroline called a team meeting, which Drappi attended as a team member. The focal point of Drappi’s evidence is the recording of this team meeting, which was made covertly by an Alameda employee who had just started working there a few days before the company’s collapse.

Caroline was heard telling the jury in the recorded audio recording that Alameda borrowed money from FTX, which caused the exchange to run out of user dollars and eventually crash.

Drappi continues the recording by asking Caroline if there is a strategy in place to repay FTX’s creditors. Caroline responds that “FTX was trying to raise money in order to do this,” but eventually failed. In the discussion, she added that “as far as I know,” FTX had let Alameda to borrow customer monies.

In his testimony, Drappi emphasized that the purpose of fundraising is “not to fill a hole in the balance sheet,” a reference to Alameda’s financial reports. Instead, fundraising occurs when there is something new happening with the company.

Although the audio was used to support Caroline’s credibility before the jury, it has smacked back her dubious actions that show otherwise. She admitted to crimes before she was genuinely interested in doing so, the recording shows.

In the audio tape, it can be heard that Caroline responded with “I mean, it was kind of fun” and a bigger chuckle when an Alameda employee said, “I am sure it wasn’t fun.” Caroline was speaking to the employee in response to the statement.

More From The Kangaroo Times

    Total
    0
    Shares
    Related Posts
    Total
    0
    Share