Tag Archives: Ellison

FTX was a boys’ club. When Caroline Ellison asked Sam Bankman-Fried for equity in the hedge fund she ran, he said ‘it was too complicated’ – Fortune

  1. FTX was a boys’ club. When Caroline Ellison asked Sam Bankman-Fried for equity in the hedge fund she ran, he said ‘it was too complicated’ Fortune
  2. ‘Don’t Do That Again’: Sam Bankman-Fried’s Lawyers Under Fire From Judge The New York Times
  3. SBF’s ex-girlfriend: He ‘directed me’ to steal billions from FTX Yahoo Finance
  4. Editorial: In the world of cryptocurrencies, Sam Bankman-Fried’s trial is a total nightmare Chicago Tribune
  5. Caroline Ellison testifies Sam Bankman-Fried directed her to commit crimes: CNBC Crypto World CNBC Television

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Elon Musk helped Larry Ellison reset forgotten Twitter password: biographer – Business Insider

  1. Elon Musk helped Larry Ellison reset forgotten Twitter password: biographer Business Insider
  2. Elon Musk Went On A Gaming Marathon After He Offered To Buy Twitter – Tesla (NASDAQ:TSLA) Benzinga
  3. Elon Musk Biography to Show Epic Dogecoin Connection CoinGape
  4. Elon Musk’s ‘ruthless’ plan to close his Twitter deal early let him fire the social media company’s top execs—and stop them collecting a ‘$200 million’ payout Fortune
  5. Inside Elon Musk’s Twitter takeover — by his confidant The Times
  6. View Full Coverage on Google News

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Caroline Ellison: How a young math whiz with an appetite for risk became a major player in Sam Bankman-Fried’s corrupt crypto empire – Fortune

  1. Caroline Ellison: How a young math whiz with an appetite for risk became a major player in Sam Bankman-Fried’s corrupt crypto empire Fortune
  2. We’re Obsessed With Caroline Ellison’s Diary Being Evidence in the FTX Case Futurism
  3. Sam Bankman-Fried’s trial involves over 6 million pages of evidence including Caroline Ellison’s diary, report says Yahoo Finance
  4. Emails, Chat Logs, Code and a Notebook: The Mountain of FTX Evidence The New York Times
  5. Caroline Ellison’s ‘diary’ a key piece of evidence in Sam Bankman-Fried’s FTX fraud case: report New York Post
  6. View Full Coverage on Google News

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Caroline Ellison ‘knew’ Sam Bankman-Fried’s alleged fraud ‘was wrong’

Sam Bankman-Fried’s ex-girlfriend stunningly confessed during a secret court proceeding that she knew “it was wrong” to take part in his alleged fraud scheme, according to a transcript made public Friday.

“I am truly sorry for what I did,” Caroline Ellison said. “I knew that it was wrong.”

Ellison, 28, pleaded guilty Monday to federal fraud charges in connection with her role as the CEO of the Alameda Research hedge fund, which allegedly received billions of dollars from Bankman-Fried’s now-bankrupt FTX cryptocurrency exchange.

Ellison admitted in Manhattan federal court that she “understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX would lend out their digital asset holdings and fiat currency deposits to Alameda in this fashion.”

FTX co-founder Gary Wang also pleaded guilty in the $8 billion collapse of FTX, and both he and Ellison are cooperating with the feds, Manhattan US Attorney Damian Williams revealed Wednesday.

Ellison pleaded guilty Monday to federal fraud charges.

FTX founder Sam Bankman-Fried was released on $250 million bond.


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Gary Wang also pleaded guilty.
FTX was founded in 2019.


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Bankman-Fried, 30, was extradited from the Bahamas Wednesday to face an eight-count indictment that carries a maximum 115 years in prison.

He was released on $250 million bond to house arrest at his parents’ $4 million home in Palo Alto, Calif., near Stanford University, where they’re both law professors.

Ellison’s plea agreement says that she faces up to 110 years in prison and that prosecutors “will not recommend any specific sentence” in exchange for her cooperation.

But it also says that if she provides “substantial assistance,” they will submit a letter asking for a punishment that’s less harsh than called for by federal sentencing guidelines.

Former Brooklyn federal prosecutor Moira Penza said it was “too early” to say how much time Ellison would have to serve in prison but noted that “cooperating early was the best thing she could have done to seriously reduce her possible sentence.”

“Ms. Ellison was in the door as early as she could be and didn’t even need to be indicted.  She is signaling at every opportunity that she is taking responsibility and is truly remorseful,” Penza said.

Penza also noted that it’s “not unheard of for testifying cooperators — even ones facing as long a sentence as Ms. Ellison — to receive probation rather than any prison term.”

Defense lawyer Ira Sorkin — whose former client, the late Bernie Madoff, got slapped with a 150-year sentence for his epic Ponzi scheme — declined to guess what would happen to Ellison.

“To predict what she will get at this stage is impossible,” he said.

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Caroline Ellison Apologizes for Misconduct in FTX Collapse

Caroline Ellison,

a close associate of FTX founder

Sam Bankman-Fried,

apologized in court this week as she pleaded guilty to fraud and other offenses, telling a judge that she and others conspired to steal billions of dollars from customers of the doomed crypto exchange while misleading investors and lenders.

“I am truly sorry for what I did,” Ms. Ellison, the former chief executive of Mr. Bankman-Fried’s crypto-trading firm, Alameda Research, said in a New York federal court, according to a transcript of the hearing made available Friday. “I knew that it was wrong.”

Ms. Ellison, 28 years old, and former FTX chief technology officer

Gary Wang,

29, pleaded guilty Monday during separate hearings in sealed courtrooms. Both agreed to cooperate with the government’s investigation in exchange for the prospect of lighter sentences.

Ms. Ellison, a former romantic partner of Mr. Bankman-Fried, pleaded guilty to seven criminal counts, including fraud, conspiracy and money laundering. During her hearing, she admitted to conspiring to use billions of dollars from FTX customer accounts to repay loans Alameda had taken out to make risky investments.

FTX executives had enacted special settings that granted Alameda access to an unlimited line of credit without having to post collateral, pay interest on negative balances or be subject to margin calls, she said.

“I also understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX would lend out their digital asset holdings and fiat currency deposits to Alameda in this fashion,” she said.

Ms. Ellison also said she and Mr. Bankman-Fried worked with others to conceal the arrangement from lenders, including by hiding on quarterly balance sheets the extent of Alameda’s borrowing and the billions of dollars in loans that the firm had made to FTX executives and associates. Mr. Bankman-Fried was among the executives who received loans from Alameda, she said.

Under questioning from the judge, Ms. Ellison said she knew what she was doing was illegal.

She said that since FTX’s implosion, she has worked hard to assist in the recovery of customers’ assets and aid the government’s investigation. 

At the hearing, U.S. District Judge

Ronnie Abrams

granted the request of federal prosecutors to temporarily seal all documents connected to Ms. Ellison’s plea agreement. At the time, Mr. Bankman-Fried was in a jail in the Bahamas after the Justice Department requested local police arrest him, and he had not yet formally consented to his transfer to U.S. custody. 

“We’re still expecting extradition soon, but given that he has not yet entered his consent, we think it could potentially thwart our law enforcement objectives to extradite him if Ms. Ellison’s cooperation were disclosed at this time,” Assistant U.S. Attorney

Danielle Sassoon

told Judge Abrams. 

A lawyer for Ms. Ellison declined to comment. Ms. Ellison was ordered released on $250,000 bond at her plea hearing. A spokesman for the U.S. attorney’s office in Manhattan declined to comment. 

John J. Ray III, the new chief executive of FTX, testified in front of a House committee Tuesday on the collapse of the crypto exchange. His testimony came less than a day after the company founder, Sam Bankman-Fried, was arrested in the Bahamas. Photo: Al Drago/Bloomberg News

Mr. Wang pleaded guilty in front of the same judge. He told Judge Abrams he knew what he was doing was illegal and wrong. “As part of my employment at FTX, I was directed to and agreed to make certain changes to the platform’s code,” he said, adding that he executed the changes knowing they would give Alameda Research special privileges on the FTX platform.

A lawyer for Mr. Wang declined to comment. He has previously said that Mr. Wang takes his responsibilities as a cooperating witness seriously.

The Justice Department charged Mr. Bankman-Fried earlier this month with eight counts of fraud and conspiracy connected to the implosion of his company. He was released from custody on a $250 million bond on Thursday after making his first court appearance in New York following his extradition from the Bahamas. A federal magistrate judge set strict restrictions on Mr. Bankman-Fried, including ordering him to stay in his parents’ Palo Alto, Calif., home and be under electronic monitoring. 

Mr. Bankman-Fried has said he made mistakes that contributed to FTX’s demise, but he has denied engaging in fraud.

Write to Corinne Ramey at corinne.ramey@wsj.com and James Fanelli at james.fanelli@wsj.com

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Caroline Ellison and Gary Wang: FTX co-founder and ex-chief of hedge fund Alameda Research each pleaded guilty to multiple charges, are cooperating with fed



CNN
 — 

Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night.

Gary Wang, the co-founder of FTX, and Caroline Ellison, who served as CEO of the hedge fund Alameda Research, pleaded guilty to multiple counts of conspiracy and fraud for their roles in the fraud scheme that led to the collapse of the crypto-trading platform.

Damian Williams, the US attorney for the Southern District of New York, announced the charges in a video message Wednesday night. In a brief statement, he reiterated that the investigation is still ongoing, noting specifically that these new charges in the case are not the last.

Ilan Graff, an attorney for Wang, said: “Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness.” Wang has already appeared in court for his guilty plea.

Ellison’s attorneys could not be immediately reached for comment.

The charges were unsealed as Sam Bankman-Fried was enroute to the United States from the Bahamas, where he was arrested last week on an eight-count indictment for what Williams called one of the largest financial frauds in American history. Bankman-Fried waived his right to contest extradition on Wednesday and boarded a plane for the United States in the early evening.

Bankman-Fried is expected to appear before a judge in Manhattan on Thursday. Prosecutors and his attorneys have been in discussions about a bail package that would allow him to avoid detention, people familiar with the matter told CNN.

Wang cofounded FTX with Bankman-Fried in 2019 and also worked with him at his hedge fund Alameda Research. Ellison became CEO of Alameda in October 2021, according to court filings.

Prosecutors allege Bankman-Fried engaged in multiple fraudulent schemes. Among them, they allege that Bankman-Fried stole money from FTX customers to support Alameda, made investments in other companies, bought luxury real estate and donated tens of millions of dollars to political campaigns.

In letters dated Sunday, December 18, and signed the following day, Ellison and Wang agreed to plead guilty and cooperate with prosecutors.

Ellison is pleading guilty to seven counts, including wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, conspiracy to commit commodities fraud and conspiracy to commit wire fraud. She is charged with the same crimes as Bankman-Fried, except for the campaign finance charges.

Wang has agreed to plead guilty to four counts: wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud and conspiracy to commit securities fraud.

“As I said last week this investigation is very much ongoing and it’s moving very quickly,” Williams said. “I also said last week’s announcement would not be our last and let me be clear, once again, neither is today’s.”

Federal regulators also charged Ellison and Wang with playing starring roles in a years-long scheme to defraud FTX investors.

The Securities and Exchange Commission allege that Ellison and Wang actively participated in a “scheme to defraud” the investors. Between 2019 and 2022, Ellison manipulated the price of FTT, FTX’s security token, “at the direction of” Bankman-Fried, regulators alleged. The SEC said this manipulation was conducted by purchasing large quantities of FTT on the open market to prop up its price.

Regulators say this alleged manipulation inflated the holdings of Alameda, overstated the hedge fund’s balance sheet and “misled” investors about FTX’s risk exposure.

“When FTT and the rest of the house of cards collapsed, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang left investors holding the bag,” SEC Chairman Gary Gensler said in a statement.

Wang created FTX’s source code that allowed Alameda to divert FTX customer funds and Ellison used misappropriated funds for the hedge fund’s trading activity, according to the SEC.

“Ellison and Wang were active participants in the scheme to deceive FTX’s investors and engaged in conduct that was critical to its success,” the SEC said in a release.

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SEC Charges Caroline Ellison and Gary Wang with Defrauding Investors in Crypto Asset Trading Platform FTX

Washington D.C., Dec. 21, 2022 —

The Securities and Exchange Commission today charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform co-founded by Samuel Bankman-Fried and Wang. Investigations into other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.

According to the SEC’s complaint, between 2019 and 2022, Ellison, at the direction of Bankman-Fried, furthered the scheme by manipulating the price of FTT, an FTX-issued exchange crypto security token, by purchasing large quantities on the open market to prop up its price. FTT served as collateral for undisclosed loans by FTX of its customers’ assets to Alameda, a crypto hedge fund owned by Wang and Bankman-Fried and run by Ellison. The complaint alleges that, by manipulating the price of FTT, Bankman-Fried and Ellison caused the valuation of Alameda’s FTT holdings to be inflated, which in turn caused the value of collateral on Alameda’s balance sheet to be overstated, and misled investors about FTX’s risk exposure.

In addition, the complaint alleges that, from at least May 2019 until November 2022, Bankman-Fried raised billions of dollars from investors by falsely touting FTX as a safe crypto asset trading platform with sophisticated risk mitigation measures to protect customer assets and by telling investors that Alameda was just another customer with no special privileges; meanwhile, Bankman-Fried and Wang improperly diverted FTX customer assets to Alameda. The complaint alleges that Ellison and Wang knew or should have known that such statements were false and misleading. 

The complaint also alleges that Ellison and Wang were active participants in the scheme to deceive FTX’s investors and engaged in conduct that was critical to its success. The complaint alleges that Wang created FTX’s software code that allowed Alameda to divert FTX customer funds, and Ellison used misappropriated FTX customer funds for Alameda’s trading activity. The complaint further alleges that, even as it became clear that Alameda and FTX could not make customers whole, Bankman-Fried, with the knowledge of Ellison and Wang, directed hundreds of millions of dollars more in FTX customer funds to Alameda.

“As part of their deception, we allege that Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,” said SEC Chair Gary Gensler. “We further allege that Ms. Ellison and Mr. Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading. When FTT and the rest of the house of cards collapsed, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang left investors holding the bag. Until crypto platforms comply with time-tested securities laws, risks to investors will persist. It remains a priority of the SEC to use all of our available tools to bring the industry into compliance.”

“As alleged, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang were active participants in a scheme to conceal material information from FTX investors, including through the efforts of Mr. Bankman-Fried and Ms. Ellison to artificially prop up the value of FTT, which served as collateral for undisclosed loans that Alameda took out from FTX pursuant to its undisclosed, and virtually unlimited, line of credit,” said Sanjay Wadhwa, Deputy Director of the SEC’s Division of Enforcement. “By surreptitiously siphoning FTX’s customer funds onto the books of Alameda, defendants hid the very real risks that FTX’s investors and customers faced.”

The SEC’s complaint charges Ellison and Wang with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint seeks injunctions against future securities law violations; an injunction that prohibits Ellison and Wang from participating in the issuance, purchase, offer, or sale of any securities, except for their own personal accounts; disgorgement of their ill-gotten gains; a civil penalty; and an officer and director bar. Ellison and Wang have consented to bifurcated settlements, which are subject to court approval, under which they will be permanently enjoined from violating the federal securities laws, the above-described conduct-based injunctions, and officer and director bars. Upon motion of the SEC, the court will determine whether and what amount of disgorgement of ill-gotten gains plus prejudgment interest and/or a civil penalty is appropriate, as well as the length of the officer and director bar and the conduct-based injunction imposed against Wang.

In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced charges against Ellison and Wang.

Ellison and Wang are cooperating with the SEC’s ongoing investigation, which is being conducted by Devlin N. Su, Ivan Snyder, and David S. Brown of the Crypto Assets and Cyber Unit and Brian Huchro and Pasha Salimi. It is being supervised by Amy Flaherty Hartman, Michael Brennan, Jorge Tenreiro, and David Hirsch. The SEC’s litigation will be led by Amy Burkart and David D’Addio and supervised by Ladan Stewart and Olivia Choe. Additional assistance to the investigation was provided by Therese Scheuer, Alistaire Bambach, Ainsley Kerr, William Connolly, and Howard Kaplan.

The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the FBI, and the Commodity Futures Trading Commission.

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Sam Bankman-Fried, Caroline Ellison retain high-powered white collar lawyers amid FTX probe

FTX founder Sam Bankman-Fried and Alameda Research CEO Caroline Ellison have each retained high-powered criminal defense attorneys specializing in white-collar crimes amid the ongoing law enforcement probes into the collapse of their crypto empire.

Bankman-Fried was arrested in the Bahamas on Monday at the request of U.S. authorities ahead of his likely extradition at a later date. On Tuesday, a federal prosecutor unsealed an indictment revealing Bankman-Fried has been charged with eight crimes.

The charges against him include wire fraud on customers, plus a related conspiracy charge; wire fraud on lenders, plus a conspiracy charge; in addition to conspiracies to commit commodities fraud, securities fraud, money laundering, and violate campaign finance laws.

SAM BANKMAN-FRIED DENIED BAIL IN BAHAMAS, ORDERED HELD UNTIL FEB. 8 IN ALLEGED FTX FRAUD SCHEME

Samuel Bankman-Fried leaves Magistrate Court, Nassau Bahamas, December 13, 2022. Samuel Bankman-Fried leaves Magistrate Court, Nassau Bahamas, December 13, 2022. The FTX founder is charged with eight counts of conspiracy and fraud of investors in his (Mega for Fox News Digital / Fox News)

In total, the charges Bankman-Fried faces carry a total potential sentence of up to 115 years in prison based on federal sentencing guidelines for those crimes. The wire fraud charges – including the conspiracy charges – and the money laundering conspiracy count carry a maximum sentence of 20 years in prison apiece. Each of the commodities and securities fraud charges and the campaign finance conspiracy charge carries a maximum sentence of five years in prison.

WHERE DID THE MONEY GO IN FTX CRYPTO COLLAPSE?

The task of preventing Bankman-Fried from spending the rest of his life in prison if found guilty of the crimes he stands accused of falls to Mark Cohen, of Cohen & Gresser law firm. 

Cohen, a former federal prosecutor, has represented a variety of clients including financial firms, hedge funds, executives, energy companies, and others facing federal charges. Notably, Cohen represented Jeffrey Epstein’s confidante Ghislaine Maxwell in her sex trafficking trial and was a defense attorney for Joaquin “El Chapo” Guzman, who was a leader in the Sinaloa drug cartel. 

SEC CHARGES BANKMAN-FRIED FOR ALLEGED ‘MASSIVE, YEARS-LONG FRAUD’

Sam Bankman-Fried, co-founder and ex-CEO of FTX, in Hong Kong, China. A judge in the Bahamas ordered Bankman-Fried held until Feb. 8 despite federal charges against him in the United States.  (Photographer: Lam Yik/Bloomberg via Getty Images / Getty Images)

At a press conference Tuesday announcing the charges against Bankman-Fried, U.S. Attorney for the Southern District of New York Damian Williams said that the Bankman-Fried case, which has drawn comparisons to Bernie Madoff’s Ponzi scheme and the Enron scandal, will go down as “one of the biggest frauds in American history.”

Williams also issued an ominous warning to Bankman-Fried’s conspirators who may face charges, saying, “In terms of whether we’re going to bring charges against anyone else, look, I can only say this: Clearly, we are not done.”

FTX CEO BLAMES ‘GROSSLY INEXPERIENCED’ OWNERS FOR COLLAPSE, SAYS CUSTOMER MONEY FUELED RISKY ALAMEDA TRADES

John J. Ray III, CEO of FTX Group, prepares to testify during the House Financial Services Committee hearing titled Investigating the Collapse of FTX, Part I, on Tuesday, December 13, 2022. Ray took over after the resignation of Sam Bankman-Fried. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

As of Tuesday, no charges have been filed against Caroline Ellison, the reported ex-girlfriend of Bankman-Fried who he appointed to lead Alameda Research. 

However, Ellison has retained the services of Stephanie Avakian, a partner at the law firm of WilmerHale. Avakian has deep experience in legal issues related to the financial sector, as she was previously the director of the Securities and Exchange Commission’s Division of Enforcement. 

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At present, Avakian leads WilmerHale’s Securities and Financial Services Department and has worked to counsel and defend publicly-traded companies, corporate boards, investment banks, and individual executives involved with government investigations.

Fox Business’ Charles Gasparino noted on Twitter that Ellison’s choice of an attorney from WilmerHale has fueled speculation that “she will cooperate” with prosecutors and turn on Bankman-Fried given the firm’s connections to the federal prosecutor’s office in Manhattan and its reputation for securing plea deals.



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Oracle CEO Larry Ellison joined call about contesting Trump’s election loss

Oracle CEO Larry Ellison was involved in a call where a number of influential GOP figures—including Senator Lindsay Graham (R-SC), Fox News anchor Sean Hannity and Trump attorney Jay Sekulow — brainstormed ways to contest the 2020 presidential election, the Washington Post. Details of the call which occurred on November 14, 2020 were revealed in new court filings from a lawsuit brought by voting rights organization Fair Fight against True The Vote, a conservative Texas that disputes the results of the 2020 presidential election.

“Jim was on a call this evening with Jay Sekulow, Lindsey O. Graham, Sean Hannity, and Larry Ellison,” True the Vote’s founder, Catherine Engelbrecht, wrote to a donor, according to court filings reviewed by the Post. “He explained the work we were doing and they asked for a preliminary report asap, to be used to rally their troops internally, so that’s what I’m working on now.”

Ellison is a and has hosted fundraisers for former president Donald Trump. He has seemingly never expressed doubts about the 2020 election results publicly. While the CEO has donated to both parties over the years as the Palm Desert Sun , he’s poured a substantial amount of money into the GOP and since the 2020 election. His in February to a super PAC associated with Senator Tim Scott (R-SC) is one of the largest of the 2022 election cycle so far.

Ellison’s proximity to Trump has led to concerns that Oracle may have had an in competing for federal contracts during the former administration. Oracle nabbed a lucrative in 2020 to aid the Department of Health and Human Services to collect data on doctors who treat COVID-19 patients with hydroxychloroquine, an anti-malaria drug embraced by Trump. It is also with TikTok to store their US data, which Trump in 2020.

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Oracle’s Larry Ellison joined Nov. 2020 call about contesting Trump’s loss

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Larry Ellison, the billionaire co-founder and chairman of the software company Oracle and the biggest backer of Elon Musk’s attempted Twitter takeover, participated in a call shortly after the 2020 election that focused on strategies for contesting the legitimacy of the vote, according to court documents and a participant.

The Nov. 14 call included Sen. Lindsey O. Graham (R-S.C.); Fox News host Sean Hannity; Jay Sekulow, an attorney for President Donald Trump; and James Bopp Jr., an attorney for True the Vote, a Texas-based nonprofit that has promoted disputed claims of widespread voter fraud.

Ellison’s participation illustrates a previously unknown dimension in the multifaceted campaign to challenge Trump’s loss, an effort still coming into focus more than 18 months later. It is the first known example of a technology industry titan joining powerful figures in conservative politics, media and law to strategize about Trump’s post-loss options and confer with an activist group that had already filed four lawsuits seeking to uncover evidence of illegal voting.

Oracle representatives did not respond to emails, calls and text messages seeking comment.

Ellison is the 11th-richest person in the world, with a net worth of about $85 billion, according to the Bloomberg Billionaires Index. He became a major political power broker during the Trump administration, hosting the president in 2020 for a fundraiser at his estate in California’s Coachella Valley and contributing millions to Republican candidates and committees, including to Graham, according to filings with the Federal Election Commission.

During the Trump administration, in 2020, Oracle partnered with the Department of Health and Human Services to collect data from doctors treating coronavirus infections with hydroxychloroquine, the anti-malaria drug touted by the president, among other drugs. That fall, it won praise from Trump as a “great company” as it became the preferred U.S. buyer of TikTok, in a potential deal with Chinese company ByteDance that did not come to fruition.

Details of the November 2020 call and questions about Ellison’s role in it were revealed in new filings made in litigation brought against True the Vote and its representatives by Fair Fight, a political action committee associated with the voting rights organization founded by Georgia Democratic gubernatorial candidate Stacey Abrams.

“Jim was on a call this evening with Jay Sekulow, Lindsey O. Graham, Sean Hannity, and Larry Ellison,” True the Vote’s founder, Catherine Engelbrecht, wrote to a donor on the night of the call, referring to Bopp, her organization’s lawyer. “He explained the work we were doing and they asked for a preliminary report asap, to be used to rally their troops internally, so that’s what I’m working on now.”

Ellison’s participation in the call was confirmed by a participant, who spoke on the condition of anonymity to discuss private matters. This person said Ellison, as a technology executive, may have been enlisted to assess claims about voting machines made by Sidney Powell, a onetime member of Trump’s legal team. And the person said the GOP megadonor was probably looped in by Graham, as part of a discussion about whether the Trump campaign had assembled an effective legal team.

When asked why the senator would have sought the technology magnate’s participation, Graham spokesman Kevin Bishop said, “Probably because Ellison supported Trump,” but did not respond to follow-up questions about Ellison’s input and would not say directly whether Graham had invited Ellison.

Bopp, in an interview, said he could not remember all the participants but recalled being asked to join the conversation by Sekulow. He had a different recollection of the call’s purpose than did the other participant.

“The question that I think was being discussed was whether or not congressional hearings on how the 2020 election was being conducted would be beneficial to whatever people were doing,” he said, referring to efforts to uncover evidence that could cause a “change in election results,” as he put it, a pursuit that involved many different groups. “And my opinion was yes.”

Sekulow said his involvement in election-related litigation was limited, largely ending after he helped file a motion with the Supreme Court seeking to separate out mail-in ballots that arrived in Pennsylvania after Election Day from those that had come before. Justice Samuel A. Alito Jr. granted the motion on Nov. 6. A Fox spokeswoman declined to comment.

It is not clear from the court filings whether Ellison took part in subsequent calls. But his participation puzzled Fred Eshelman, the major donor to True the Vote who received Englebrecht’s email describing the call. In an email to Engelbrecht two days later, he asked for more information about Ellison’s involvement.

“Why was he on call with Senator Graham? Is he part of data/analysis solution, is he a potential large donor, other?” Eshelman wrote in a Nov. 16 email to Engelbrecht and Bopp in advance of a planned call among them.

An Eshelman associate said they never got an answer. The lack of clarity inflamed tensions between Eshelman and True the Vote.

True the Vote’s lawsuits sought expedited discovery of poll lists and other information that the group said could prove that enough illegal votes had been cast to justify blocking certification of the results in numerous states. But the litigation failed to gain immediate traction in courts, Bopp said, and the nonprofit withdrew the complaints on Nov. 16.

The complaints were among scores of unsuccessful post-election lawsuits filed by Trump or his allies. Eshelman became disillusioned with True the Vote’s efforts and sought the return of his $2.5 million donation — suing the nonprofit in federal court and then in Texas state court, where the case was dismissed and is now pending on appeal.

True the Vote has raised its profile significantly in recent weeks by collaborating with conservative commentator Dinesh D’Souza on a film that alleges there was widespread “ballot harvesting” in the 2020 election. The film, “2000 Mules,” was shown at Trump’s Mar-a-Lago Club last month and has become a focal point of ongoing efforts to deny the legitimacy of the election.

Several such claims were dismissed this week by the Georgia State Elections Board, casting doubt on the premise of the movie.

Ellison does not appear to have made public comments about the results of the 2020 vote.

But Oracle has contributed sizable sums to conservative causes, including as much as $499,000 in 2019 to the Federalist Society and as much as $499,000 in 2021 to the Internet Accountability Project, a nonprofit that accuses major technology companies of anti-conservative bias, according to corporate disclosures.

Ellison personally has invested significantly in Republican candidates and causes. He hosted Trump for a fundraiser for his 2020 reelection campaign on the same day the administration took Oracle’s side in a high-stakes copyright dispute with Google unfolding at the Supreme Court. Ellison backed Graham’s reelection in 2018 to the tune of hundreds of thousands of dollars. And this year, he donated $15 million to a super PAC aligned with Sen. Tim Scott (R-S.C.), among the largest individual contributions this cycle.

This month, Ellison pledged $1 billion to support Musk’s $44 billion Twitter takeover, according to a filing with the Securities and Exchange Commission. That makes him the largest single backer of the bid, which has been cheered by Trump allies because of comments Musk and his associates have made about loosening rules on content moderation and possibly letting the former president back on the platform.

Ellison stepped down as Oracle’s chief executive in 2014 but remains chairman of its board and chief technology officer. He is also its largest individual shareholder. Ellison joined the board of Tesla, Musk’s electric-car company, in 2018, disclosing that he had purchased 3 million shares earlier that year, which earned him 12 million additional shares in a stock split in 2020. He owns nearly all of the Hawaiian island of Lanai.

“I’ve always been very ambitious; I’ve always been very curious,” Ellison said in a 2018 interview with Maria Bartiromo of Fox Business, describing how he dropped out of college and moved to Silicon Valley to work as a computer programmer, founding Oracle in 1977.

He also praised American democracy.

“We live in a democracy,” he said. “If I don’t like our government, I can vote for somebody else. We have a choice.”

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