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This guy is so good, FTX should’ve hired him years ago.
A forensic accountant at Sam Bankman-Fried’s trial tried piecing together where $9 billion of missing FTX customer funds went on Wednesday. “Oh, yes,” said the accountant when asked if FTX ever misused customer funds.
Peter Easton, an accounting professor at the University of Notre Dame brought in by the prosecution, says user deposits were reinvested into businesses and real estate, used to make political contributions, and donated to charity, reports CoinDesk Thursday.
Importantly, Easton points to certain transactions that SBF was involved in that would have required customer funds to complete. In a key interview with ABC’s George Stephanopoulos back in November 2022, the FTX founder denied that he knew “that there was any improper use of customer funds.”
Customer funds peaked at FTX in June of 2022 when $11.3 billion was supposed to be held at Alameda Research, but its bank accounts only held $2.3 billion. Easton found customer funds lost their backing as early as March 2021.
gizmodo.com
A forensic accountant at Sam Bankman-Fried’s trial tried piecing together where $9 billion of missing FTX customer funds went on Wednesday. “Oh, yes,” said the accountant when asked if FTX ever misused customer funds.
Peter Easton, an accounting professor at the University of Notre Dame brought in by the prosecution, says user deposits were reinvested into businesses and real estate, used to make political contributions, and donated to charity, reports CoinDesk Thursday.
Importantly, Easton points to certain transactions that SBF was involved in that would have required customer funds to complete. In a key interview with ABC’s George Stephanopoulos back in November 2022, the FTX founder denied that he knew “that there was any improper use of customer funds.”
Customer funds peaked at FTX in June of 2022 when $11.3 billion was supposed to be held at Alameda Research, but its bank accounts only held $2.3 billion. Easton found customer funds lost their backing as early as March 2021.
SBF Made $9 Billion Disappear. This Forensic Accountant Found It
This guy is so good, FTX should’ve hired him years ago.
gizmodo.com
