SBF Slept on Bean Bag in Bahamas While Alameda Misused Billions of FTX Customer Funds, Ex-Employees Testify

Sam Bankman-Fried lived in a $35M Bahamas apartment paid for by his hedge fund Alameda, and slept on a bean bag while living there with 9 employees.

Witness Adam Yedidia testified he discovered in June 2022 that Alameda owed FTX customers $8 billion, which he found concerning.

Yedidia resigned 5 months later upon hearing Alameda used FTX customer money to repay loans.

Yedidia testified Bankman-Fried and Alameda CEO Caroline Ellison began a romantic relationship in early 2019.

FTX co-founder Gary Wang admitted committing financial crimes at FTX along with others including Sam Bankman-Fried.