Accused Fraudster Tried To Use Thai Prostitutes’ IDs To Transfer Cash Earlier than Alleged China Bribes, Ex Testifies

FTX founder Sam Bankman-Fried’s ex-girlfriend, Caroline Ellison, testified on Wednesday that she and the accused fraudster tried to make use of the IDs of “Thai prostitutes” to maneuver an enormous sum of cash the Chinese language authorities had frozen, in accordance with The Messenger.

Bankman-Fried and Ellison allegedly employed this technique earlier than allegedly bribing Chinese language authorities officers $150 million to unfreeze the cash, The Messenger reported. The Chinese language authorities allegedly froze $1 billion in funds from Alameda Analysis, the sister hedge fund to Bankman-Fried’s FTX cryptocurrency change, held in two of the nation’s cryptocurrency exchanges, in accordance with The Wall Road Journal. (RELATED: Dem Megadonor And Alleged Fraudster Thought He Had A Shot At The Presidency, Ex Testifies)

Ellison and Bankman-Fried “used varied buying and selling methods to maneuver funds out of our frozen accounts, utilizing IDs of various individuals who I imagine have been Thai prostitutes,” Ellison testified, in accordance with The Messenger.

AUSA: How a lot was frozen in China?
Ellison: $1 billion. Sam needed to seek out methods to handle it.
AUSA: How have been they unfrozen?
Ellison: Alameda paid a bribe to Chinese language authorities officers
SBF: Objection, transfer to strike.
Decide Kaplan: I’ll strike that

— Internal Metropolis Press (@innercitypress) October 11, 2023

Federal prosecutors in Manhattan indicted Bankman-Fried for conspiring to bribe Chinese language authorities officers with $40 million to unfreeze the funds in March. Nevertheless, prosecutors didn’t embody the cost of their August superseding indictment.

Bankman-Fried at present faces seven prices, together with defrauding FTX clients and lenders, in accordance with The New York Instances. Prosecutors allege that he masterminded a scheme of diverting billions of {dollars} from clients’ FTX deposits to fund marketing campaign contributions, donations to charities and actual property acquisitions.

Bankman-Fried’s lawyer didn’t instantly reply to the Every day Caller Information Basis’s request for remark.

All content material created by the Every day Caller Information Basis, an unbiased and nonpartisan newswire service, is obtainable with out cost to any professional information writer that may present a big viewers. All republished articles should embody our brand, our reporter’s byline and their DCNF affiliation. For any questions on our tips or partnering with us, please contact [email protected].