• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Tech»Star Witness: Sam Bankman-Fried’s Plan to Unlock Frozen Chinese FTX Funds
Tech

Star Witness: Sam Bankman-Fried’s Plan to Unlock Frozen Chinese FTX Funds

October 13, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Alameda Research, the sister company of FTX, bribed a Chinese government official and even used the identities of Thai prostitutes to unlock $1 billion of frozen funds on other digital currency exchanges, according to the testimony of Caroline Ellison, the ex-girlfriend of disgraced FTX CEO Sam Bankman-Fried.

Caroline Ellison, the former CEO of the hedge fund Alameda Research, testified on Wednesday during the court trial of disgraced former FTX CEO Sam Bankman-Fried that, at Bankman-Fried’s direction, Alameda sent a $150 million payment to an unknown Chinese government official to unlock $1 billion of its assets on the OKX and Huobi exchanges.

Sam Bankman-Fried

FTX founder Sam Bankman-Fried (second on left) is led away in handcuffs by officers of the Royal Bahamas Police Force in Nassau, Bahamas, on December 13, 2022. (MARIO DUNCANSON/AFP via Getty Images)

Sam Bankman-Fried's ex-girlfriend Caroline Ellison

Caroline Ellison, former chief executive officer of Alameda Research LLC, exits court in New York, US, on Tuesday, Oct. 10, 2023.  Photographer: Yuki Iwamura/Bloomberg

Ellison pled guilty last year to fraud and conspiracy charges and testified that she had committed said crimes on behalf of Bankman-Fried.

Ellison first described that they tried a lawyer but were unsuccessful. Then, they tried to use the identification of Thai prostitutes to create accounts on those exchanges to get the funds released. At that point, Bankman-Fried, who was initially against using cash payments, agreed to bribe the unknown Chinese official.

Judge Lewis Kaplan, the judge presiding over the case, told the jury that Bankman-Fried is not on trial for bribing a Chinese official, but said that the testimony spoke to the relationship between Ellison and Bankman-Fried.

See also  ‘Didn’t Break A Law!’: ESPN Star Defends Ja Morant, Rants About Conservative Politicians

To mask the bribe on official documents, Ellison listed the payment on a line item on “State of Alameda” documents as under “notable/idiosyncratic pnl stuff,” and “150m from the thing?”

Bankman-Fried wanted to use this vague language so that it could not “eventually be used against us in court.”

Ellison also testified Bankman-Fried had a different view of morals. She said Bankman-Fried “said he was a utilitarian,” Ellison explained. “He didn’t think rules like ‘don’t lie’ and ‘don’t steal’ fit into that framework.”

Bankman-Fried stands accused of seven counts of fraud, conspiracy, and money laundering on his alleged use of FTX customer funds to cover the losses of his hedge fund, Alameda Research. He also allegedly used those funds to purchase real estate and cover other personal expenses. Bankman-Fried pled not guilty to all counts and faces up to 110 years in prison.

Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.

BankmanFrieds Chinese Frozen FTX funds plan Sam Star Unlock Witness
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Chinese Companies Are Moving to Texas, Nevada To Avoid Trump’s Tariffs

May 5, 2025

Amazon Reportedly Floats Plan To Show Tariff Price Increases To Shoppers — Karoline Leavitt Calls It ‘Hostile’ Move

April 29, 2025

Chinese Manufacturers Flood TikTok To Subvert Trump’s Tariff Agenda

April 28, 2025

Vietnam Pledges to Crack Down on Illicit Transshipment of Chinese Goods: Report

April 11, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Ja Morant Apologizes After New Video With Apparent Gun

May 17, 2023

Denny’s Set To Shutter Nearly 30 Locations Amid Inflation, Bird Flu

February 14, 2025

New York City Mayor Gives Sean ‘Diddy’ Combs The Key To The City

September 16, 2023

UAW says GM outlines EV investment plans, will raise wages for US workers

November 5, 2023
Don't Miss

How Smart Mattresses Improve Sleep Quality For Couples

Lifestyle May 9, 2025

Sharing a bed with your partner can be romantic… until it’s not. One of you…

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,111)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Mexican Marines Arrest Top Gulf Cartel Enforcer in City near Texas Border

September 10, 2023

Church allegedly vandalized with Molotov cocktails ahead of hosting drag queen story hour

March 27, 2023

Tesla, Rivian, XPeng and more

July 3, 2023
Popular Posts

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.