Caroline Ellison likely working with feds against Sam Bankman-Fried

Sam Bankman-Fried’s reported ex-girlfriend was likely among the first people to turn on him and help prosecutors build their fast-moving fraud case in the epic, $8 billion-plus collapse of his FTX cryptocurrency exchange, a former US government lawyer said Wednesday,

Caroline Ellison, 28, is a key figure in the case as she was at one time CEO of the Alameda Research hedge fund — which authorities claim received billions of dollars that Bankman-Fried, 30, diverted from FTX.

“She would have among the greatest incentives to cooperate, as it was seeming likely that in his effort to exculpate himself, Bankman-Fried would try to finger her,” former Securities and Exchange Commission lawyer Howard Fischer told The Post.

Fischer said “the speed of the indictment and the breadth of the charges” against Bankman-Fried meant “someone relatively senior is cooperating with the federal authorities in exchange for leniency for their own potential misconduct.”

“It is possible Bankman-Fried’s publicity tour, in which he repeatedly disclaimed either knowledge of — or responsibility for — mishandling or theft of customer assets, spurred senior officers to fear that he would specifically blame them,” he said.


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