Peter Easton, a forensic accountant professor from University of Notre Dame, has made a shocking <\/span>revelation<\/span><\/a> about the missing FTX customers\u2019 $9 billion and Alameda Research\u2019s connection to it.<\/span><\/p>\n Following an in-depth study into Alameda Research\u2019s bank statements, wire transfers as well as other documents, the forensic accountant offered an explanation into some discrepancies. Easton highlighted that a total of $11.3 billion in FTX customer funds were meant to be held at FTX sister trading firm Alameda Research, but only $2.3 billion was deposited in the bank accounts.\u00a0<\/span><\/p>\n <\/p>\n It turned out that the funds were plunged into other investments vehicles including Anthony Scaramucci\u2019s SkyBridge Capital and Lily Zhang\u2019s Modulo Capital. Notably, the relationship between Modulo Capital, FTX and Alameda Research had recently come up in SBF\u2019s criminal trial during Caroline Ellison\u2019s <\/span>testimony<\/span><\/a>. Another undocumented investment achieved with FTX customers\u2019 deposits was the part repayment of a loan that Alameda received from Genesis Capital.<\/span><\/p>\n <\/p>\n Some other projects which FTX took on while leveraging on customers deposits are donations to political parties and their candidates, charity organizations, real estate purchases and even payment to celebrities. Taking the witness stand on Monday, ex-FTX engineering director Nishad Singh revealed that FTX, under the leadership of Bankman-Fried, <\/span>spent<\/span><\/a> about $1.3 billion on celebrity promotions.<\/span><\/p>\n Unlike <\/span>Ellison<\/span><\/a>, his ex-girlfriend and <\/span>Gary Wang<\/span><\/a> who pleaded guilty to the charges levied against them, Bankman-Fried has maintained that he is not guilty. Unfortunately, Easton\u2019s bombshell discovery gives credence to prosecutors claims that the former Chief Executive Officer of the defunct cryptocurrency exchange redirected customers funds to Alameda for investment in personal gratification before FTX and its associates imploded in 2022.\u00a0<\/span><\/p>\n <\/p>\n Considering all the testimonies against SBF since his criminal trial began, things are currently not looking good for the 31-year-old entrepreneur. Bankman-Fried is likely to spend decades in jail if eventually proven guilty on a variety of fraud and conspiracy charges. Prosecutors are in the middle of wrapping up their case as the third week of the trial draws to a close.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n –><\/p>\n –><\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <!– <\/p>\nThe Easton Revelation<\/strong><\/h2>\n
Court May Prove SBF is Guilty After Trial<\/strong><\/h2>\n
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