Forensic Accountant Makes Bombshell Discovery

Forensic Accountant Makes Bombshell Discovery

Peter Easton, a forensic accountant professor from University of Notre Dame, has made a shocking revelation about the missing FTX customers’ $9 billion and Alameda Research’s connection to it.

The Easton Revelation

Following an in-depth study into Alameda Research’s 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. 

It turned out that the funds were plunged into other investments vehicles including Anthony Scaramucci’s SkyBridge Capital and Lily Zhang’s Modulo Capital. Notably, the relationship between Modulo Capital, FTX and Alameda Research had recently come up in SBF’s criminal trial during Caroline Ellison’s testimony. Another undocumented investment achieved with FTX customers’ deposits was the part repayment of a loan that Alameda received from Genesis Capital.

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, spent about $1.3 billion on celebrity promotions.

Court May Prove SBF is Guilty After Trial

Unlike Ellison, his ex-girlfriend and Gary Wang who pleaded guilty to the charges levied against them, Bankman-Fried has maintained that he is not guilty. Unfortunately, Easton’s 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. 

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.

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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, Linkedin

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