[dragonwriter]

> but he was leading Alameda together with Caroline up until last summer.

According to the SEC civil lawsuit against SBF, SBF was running Alameda the whole time, including when Ellison and Trabucco were nominally the co-CEOs. The CFTC lawsuit against SBF, FTX, Aand Alameda asserts the same, and that SBFs resignation as CEO of Alameda was done to create the false image of strong separation between Alameda and FTX.

Ellison apparently had a real role in the fraud, but I don’t know that it’s clear that Trabucco was anything other than a face set up as a distraction, in terms of substantive role.