The eleventh day of the trial of Sam Bankman-Fried (SBF) focused on the testimony of accounting experts who provided crucial information regarding the disappearance of $9 billion in FTX customer funds. Professor Peter Easton from the University of Notre Dame and FBI accountant Paige Owens presented their analysis of FTX and Alameda’s accounts and bank statements.Professor Easton’s analysis revealed that Alameda Research, FTX’s sister hedge fund, had misappropriated customer and investor funds. Shockingly, out of the $11.3 billion that should have been held by Alameda, only $2.3 billion was found in its bank accounts. These funds were diverted for various purposes, including investments, property acquisitions, political contributions, and charity foundations.Furthermore, Easton highlighted that approximately $4.5 billion of Alameda’s third-party loans, which accounted for 68% of the total, were serviced using FTX customer funds. This revelation raises serious concerns about the management and handling of customer funds within the organization.In addition to these findings, it was revealed that SBF’s parents had acquired a $16.4 million property in the Bahamas, potentially using customer funds. This raises questions about the potential misuse of funds for personal gain.FBI accountant Paige Owens provided insights into the extensive political donations attributed to SBF and others. It was discovered that $47 million had been transferred to SBF’s personal account for political action committees, including Guardians Against Pandemics, Building a Stronger Future, and multiple Democratic PACs. These substantial political contributions raise concerns about the influence of money in politics and the potential for conflicts of interest.The trial is progressing ahead of schedule, with the prosecution expected to conclude its case next week. If convicted, SBF could face significant legal consequences for his alleged involvement in the misappropriation of customer funds and the potential misuse of funds for personal and political purposes.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	None
Companies	SkyBridge Capital, Google, Building a Stronger Future, FTX, Alameda Research, Democratic PACs, Prime Trust, University of Notre Dame, Genesis Capital, SBF, FBI, Modulo Capital, FTX’s US division, Binance, Guardians Against Pandemics
Currencies	None Trading
Securities	None