.TianatheFirst asks: Is Caroline Ellison the reason the authorities arrested Sam Bankman-Fried prior to his congressional testimony?
Just as I predicted, Caroline Ellison, Sam Bankman-Fried's former paramour and handpicked CEO of Alameda Research, has turned against the disgraced FTX founder. At the very moment Bankman-Fried was finally extradited from the Bahamas back to the United States, the Southern District of New York announced that Ellison and Gary Wang, FTX co-founder, had both pleaded guilty to federal criminal fraud charges.
Rather than flee to a country that lacks an extradition treaty with the U.S. — Wang could have evaded punishment indefinitely by fleeing to his native China — both Wang and Ellison are fully cooperating with prosecutors as they go after Bankman-Fried.The fortuitous timing of the announcement might explain the even more curious timing of Bankman-Fried's initial arrest in the Bahamas — namely, why prosecutors would take away Congress's opportunity to question Bankman-Fried under oath.
The obvious inference is that Wang and Ellison, whom Bankman-Fried has seemingly scapegoated in public, were already giving the feds everything they need to put the disgraced crypto-clown behind bars forever. Given the sheer number of creditors and tens of billions of dollars incinerated by FTX, Bankman-Fried faces what is, in effect, a life sentence behind bars.
What would Bankman-Fried have said? Sure, he could have perjured himself by telling the same lies he had spread through the corporate media in the aftermath of FTX's collapse. But under oath, he could have also elaborated on the asides he made against collaborators — specifically and vindictively against Ellison.
Ellison and Wang are far from innocent, but the crux of this multibillion-dollar crime falls on Bankman-Fried. Remember that he may have put his side piece in charge to run Alameda Research, but at the end of the day, he owned 90% of the company.
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