Balanced News: Bankman-Fried, FTX execs received billions in hidden loans

Caroline Ellison, Bankman-Fried’s colleague, said she agreed with him to hide the loans from FTX investors. Caroline Ellison, former chief executive of Alameda Research, said she agreed with Bankman-Fried to hide from FTX’s investors, lenders and customers that the hedge fund could borrow unlimited sums from the exchange, according to a transcript of her December 19 plea hearing that was unsealed on Friday. Ellison and FTX cofounder Gary Wang pleaded guilty and are cooperating with prosecutors as part of their plea agreements.