A top FTX executive confronted Sam Bankman-Fried about billions in customer funds that had been diverted from the crypto exchange to allied trading firm Alameda Research weeks before the companies collapsed, according to testimony in court on Monday.
Nishad Singh, the former head of engineering at FTX, offered his testimony in the criminal fraud trial of Bankman-Fried, who was charged after his exchange failed with a gaping hole in its customer accounts last November.
The jury saw a picture of the luxurious terrace at the Bahamas penthouse that Singh shared with Bankman-Fried, as he described a tense conversation in September 2022 after he learned Alameda had borrowed billions of dollars from FTX customer funds that it could not pay back.
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