FTX founder Sam Bankman-Fried’s trial day 11: Recap
On the 11th day of FTX founder Bankman-Fried’s historic trial , an expert witness reveals how several investments and loans were made from FTX’s customer funds. Sam Bankman-Fried’s trial enters its 11th day, as the prosecutor calls multiple witnesses to testify. Today’s witnesses included Professor Peter Easton, who was employed by the litigation assistance firm Brattle to analyze the accounts of FTX and Alameda Research. Testimony of Peter D. Easton, Professor of Accountancy at Notre Dame Easton is shown a balance sheet of funds going from FTX to Alameda. 47 Alameda accounts received money from FTX customer accounts in the presented balance sheet. Several investments by Bankman-Fried were made from FTX customer funds. This includes: Investments to Anthony Scaramucci’s Skybridge Capital and $100 million in Dave Inc. from a venture by Alameda. Nishad Singh took $1 million from customer funds to make donations to the political committee M...