- Bankrupt cryptocurrency exchange FTX used customer funds to bribe corrupt Chinese officials, former CEO Sam Bankman-Fried’s ex-girlfriend and accomplice has testified in court.
- Caroline Ellison stated in court that Bankman-Fried had directed her to commit fraud-related crimes.
- She also said Bankman-Fried, the Democratic Party’s second-largest donor in 2022, used loans to make political donations.
- Ellison told the court that $100 million in customer deposits were used to bribe Chinese officials.
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Bankrupt FTX Spent $100M Bribing Chinese Officials: Court Testimony
FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. - Disgraced cryptocurrency tycoon Sam Bankman-Fried was hit with multiple criminal charges December 13, 2022, accused of committing one of the biggest financial frauds in US history. Bankman-Fried will serve time at The Bahamas Department of Corrections until February 8, 2023. (Photo by Mario DUNCANSON / AFP) (Photo by MARIO DUNCANSON/AFP via Getty Images)
