Caroline Ellison Details Chinese Bribes and Saudi Investors in Latest Sam Bankman-Fried Testimony

Amateur sketch of screens in the overflow room at the U.S. Southern District Court on Oct. 11, 2023. From left: Exhibits; Sam Bankman-Fried with lawyers; Caroline Ellison on the witness stand. (Nik De/CoinDesk)

When Genesis, a major Alameda lender, asked Ellison if she could provide documentation of Alameda’s financials, Ellison said she and Bankman-Fried worried that providing accurate financials would “show that Alameda was risky,” so the pair devised strategies to improve the look of Alameda’s financial position. (Genesis, now defunct, is a subsidiary of Digital Currency Group, which also owns CoinDesk.)

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