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Sam Bankman-Fried was a terrible boyfriend
Caroline Ellison, former CFO of FTX Group, which became Alameda Research, has testified in a US court that CEO Sam Bankman-Fried asked her to buy FTT Stock if its price fell below $1. She also said that Bankman-Fried directed her to manipulate spreadsheets to make Alameda’s financial picture look more favorable. Ellison added that Bankman-Fried…
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SBF is on a trial, about whether or not his empire was built on lies
Sam Bankman-Fried, the former CEO of FTX Group, made a “big mistake” when he lied about his company’s revenue, his lawyer said in the opening statement of his trial on Wednesday. Bankman-Fried “didn’t have the guts to admit that he had lied to investors,” he added. The government has accused Bankman-Fried of defrauding investors of…
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Silicon Valley fell for frauds
US-based FTX Group Founder Sam Bankman-Fried, who is accused of using customers’ funds without their knowledge to plug a multibillion-dollar hole in the firm’s balance sheet, has been sent to jail after violating the terms of his bail. Prosecutors allege Bankman-Fried and other former executives used customers’ money without their knowledge to plug a multibillion-dollar…