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Sam Bankman-Fried Trial: Former Chief Engineer Reveals Events Leading to Bankruptcy

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Highlights of the Sam Bankman-Fried Trial: Day 10

Interrogation of Nishad Singh

During the tenth day of the ongoing Sam Bankman-Fried trial, Nishad Singh, former chief engineer at FTX, took the stand and faced questioning from the defense. Singh testified about the events leading up to the bankruptcy of FTX. Here are the key points:

  • Singh was involved in evaluating Anthropic before FTX decided to invest.
  • Singh expressed interest in making a separate investment or donation to Anthropic.
  • FTX paid Singh up to $2 million in bonuses and he also borrowed $477 million.
  • The loan was intended for a charitable donation, but it never materialized.
  • The loan was only on paper and Singh did not receive any cash.

In addition to Singh’s testimony, other significant revelations emerged:

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  • Singh took out a separate $10 million loan from the stock exchange for his parents, some of which was donated.
  • Carolyn Ellison, an FTX employee, sent a spreadsheet to Bankman-Fried, Singh, and Gary Wang, showing a large negative amount. Bankman-Fried claimed it was a mistake.
  • There was $8 billion unaccounted for on FTX’s balance sheet.
  • During a meeting about the Alameda closing, Ellison, Singh, and Wang were present, but Bankman-Fried was absent. Ellison disputed the possibility of Bankman-Fried not attending.

Furthermore, the jury was presented with several photographs depicting Bankman-Fried socializing with celebrities and political leaders, including New York City Mayor Eric Adams.

Conclusion of Day 10

The trial continues, and Judge Kaplan hinted at a potential conclusion in early November. Stay updated for more details.

Read more: SBF Trial Day 10: Judge Kaplan hints at its conclusion in early November

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