Bankman-Fried, FTX execs acquired billions in covert loans.

[{"selector":"#anim-b7de08d6-d545-4554-ae48-3d7900a1e752 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(42.70022625073256%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bankman-colleague Fried's Caroline Ellison agreed to disguise the loans from FTX investors.

[{"selector":"#anim-b0c399be-9e19-45fb-8b00-31392c44cb11 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Alameda Research has secretly lent billions to FTX leaders including Sam Bankman-Fried.

[{"selector":"#anim-4f32a6a3-81d6-4b64-8b0f-3a0599a4ea71 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(4.76923031932421%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Ellison and FTX cofounder Gary Wang pled guilty and agreed to cooperate with prosecutors.

[{"selector":"#anim-ff4e509b-6561-445f-849c-9578db699b78 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-21.874999829338588%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Their sworn affidavits show how two of Bankman-former Fried's associates might testify as prosecution witnesses.

[{"selector":"#anim-61f49f75-702f-4d38-be0e-d2f075f673b1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.42187489333662%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bankman-Fried admitted risk-management failings at FTX but denied criminal culpability. He's yet to plead.

[{"selector":"#anim-4ad7c56e-1f32-48c0-bd07-2d4def2883e1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Bankman-Fried started FTX in 2019 and rode a Bitcoin boom.

[{"selector":"#anim-0245951f-356f-4071-a579-3adef301e9c9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.284090795523493%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] other digital assets to become a multi-billionaire and important US political donor. Learn more