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Posted: 2023-10-10T18:19:47Z | Updated: 2023-10-11T15:25:13Z

Caroline Ellison took the stand against former FTX billionaire and ex-boyfriend Sam Bankman-Fried in a New York court on Tuesday, offering damning testimony on the fifth day of his fraud trial.

Sam directed me to commit these crimes, she said. He directed us to take customer money to pay loans.

Ellison served as chief executive of Bankman-Frieds hedge fund Alameda Research during most of her tumultuous five-year romance with her former boss.

She has been cooperating with prosecutors since pleading guilty to wire fraud, securities fraud, money laundering and related conspiracy charges after FTXs collapse last fall.

Bankman-Fried and others are accused of illegally funneling FTX customer funds into failed Alameda investments, bilking both clients and investors out of billions.

He has pleaded not guilty. If convicted, Bankman-Fried could face a sentence that would amount to life in prison.