“From 2019 through 2022, I was aware that Alameda was provided access to a borrowing facility on FTX.com, the cryptocurrency exchange run by Mr. Sam Bankman-Fried implemented special settings on Alameda’s FTX.com account that permitted Alameda to maintain negative balances in various fiat currencies and crypto currencies.”
Moreover, Ellison admitted in court that she was aware that her actions were not only wrong but also illegal. The court transcript, posted by Inner City Press,“I agreed with Mr. Bankman-Fried and others not to publicly disclose the true nature of the relationship between Alameda and FTX, including Alameda’s credit arrangement.”, and they carry a maximum sentence of 110 years. Her cooperation with law enforcement agencies could bring down this sentencing.