Prosecution's Strategy: Caroline Ellison's Personal Notes to Serve as Key Evidence Against Former FTX CEO Sam Bankman-Fried
In an August 14 submission to the U.S. District Court in the Southern District of New York, prosecutors stated their plan to introduce Caroline Ellison's to-do lists and notes as evidence, including a note labeled "Things Sam is Freaking Out About."
The legal case concerning ex-FTX CEO Sam Bankman-Fried has taken a fresh turn as prosecutors disclosed their intent to utilize personal writings from Caroline Ellison, former CEO of Alameda Research, a trading firm affiliated with FTX, as evidence in the criminal trial.
The prosecutors highlighted a list named "Things Sam is Freaking Out About," summarizing discussions between Sam Bankman-Fried and Ellison about SBF's business matters, including business worries, fundraising, Alameda's trading hedges, negative media coverage about the hedge fund, and connections to FTX.
"The Government intends to offer into evidence certain handwritten and typed notes that Ellison maintained to keep track of the conspiracy's activities," reads the filing.
"For example, Ellison took notes at meetings with her co-conspirators at which they discussed, among other things, the financial health of Alameda and its liabilities to FTX."
According to the prosecution, these notes are not considered inadmissible hearsay. They assert that the former Alameda CEO created these notes to record the supplied information and guide her role in the conspiracy.
Among the evidence is a covert recording made by an Alameda employee of Ellison during a company-wide meeting on November 9, 2022—just 48 hours before the bankruptcy filings of FTX and Alameda.
In Ellison's words, Alameda had procured "a significant amount of money through open-term loans and utilized it for various investments with limited liquidity," a situation
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