A forensic accountant at the trial of Sam Bankman-Fried tried to explain what happened to $9 billion in FTX customer funds that were missing in June 2022, five months before the company filed for bankruptcy.
Peter Easton, an accounting professor at the University of Notre Dame, said Wednesday that $11.3 billion in FTX customer funds were supposed to be held at Alameda Research, but only $2.3 billion were actually in its bank accounts. The funds were ultimately used for a variety of purposes, including investments at Anthony Scaramucci’s SkyBridge Capital and Lily Zhang’s Modulo Capital, he said.
Source: Sam Bankman-Fried Trial: Where Did FTX’s Missing $9 Billion Go? – Bloomberg
