Did Bankman-fried pay Alameda research's debts?

Ellison stated that Bankman-Fried directed her to take over $10billion in customer funds from FTX in order to pay Alameda Research’s debts. ‘Alameda took several billion dollars of money from FTX customers and used it for our own investments and to repay debts that we had,’ Ellison told the court.

What happened to FTX in the early days?

However, there are unanswered fundamental questions about the early days of FTX, when clients wired money to FTX via Alameda. Former FTX CEO Sam Bankman Fried (SBF) stated that FTX lacked a bank account in the early days, so customers wired money to Alameda.

Did Bankman-fried 'direct me to commit these crimes'?

Ellison, who pleaded guilty to similar charges in December 2022, told the court that Bankman-Fried ‘directed me to commit these crimes.’ Ellison was the former CEO of Alameda Research, a trading firm founded by Bankman-Fried that served as a liquidity provider for FTX.

Did Ellison and FTX co-founder Gary Wang testify against Bankman-fried?

After the indictment against Bankman-Fried was unsealed, prosecutors revealed that Ellison and FTX co-founder Gary Wang agreed to testify against him. Ellison agreed to plead guilty to charges of wire fraud, securities fraud, money laundering, and conspiracy to commit fraud as part of her deal with prosecutors.