"Every day there are issues about SBF, but the question is when is he going to end up in prison?"
Nishad Singh, a former senior executive of FTX recently revealed that he was aware of the improper use of customer funds in the cryptocurrency exchange.
Despite realizing the actions were completely wrong, there were nearly $8 billion in approved transactions that he believed were funded by user deposits.
Singh also testified that the stolen money was used by Alameda Research which is a subsidiary company managed by Sam Bankman Fried (SBF) which aims to make venture investments, political contributions, property acquisition and other expenses.
Singh was undeniably impressed by SBF's intelligence and character, but his respect eroded over time when shocking revelations were made during the trial.
Nishad is not only a high-ranking employee in FTX, but he is also a childhood friend of SBF's younger brother named Gabriel and his relationship with SBF deepened when he lived with the billionaire in the Bahamas.
The former FTX senior executive reportedly holds the third largest equity stake in FTX, receiving a base salary of $200,000 including collecting bonuses totaling approximately $1 million annually through 2020.
Nishad has come forward as a witness after several individuals admitted they were involved in fraud and conspiracy in FTX and Alameda, among them Caroline Ellison and Gary Wang who are now joining hands with the prosecutor.
