When the prosecution in SBF's criminal trial asked its accounting expert witness whether his analysis of FTX and Alameda's books showed the use of customer funds, he gave a simple answer: 'Oh yes.'
Peter Easton, professor at the University of Notre Dame, arrives at court in New York Wednesday. Photo: Stephanie Keith/Bloomberg via Getty Images
went into considerable detail of Easton's analysis, showing various instances where flows of funds could be traced, in his estimation, back to FTX customer deposits. He gave examples of loans repaid, donations made, venture investments secured and real estate purchased, all originating largely or entirely in customer funds.
As of early Wednesday afternoon, Easton has not yet been cross-examined by the defense, but the prosecution has concluded its direct examination.This was a numbers heavy bit of testimony. At one point, a juror could be seen with the fingers of both hands pressed against his temples.The largest shortfall between customer currency deposits and funds on hand was observed in June 2022, where Easton found it to be $11.3 billion short.
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