Did Sam Bankman-Fried use customer funds for real estate investments? The answer appears to be a resounding yes, according to recent testimony and legal filings. Prosecutors say Bankman-Fried, 31, plundered billions in FTX customer funds to prop up Alameda Research, buy real estate, and donate more than $100 million to U.S. political campaigns. Now, one former executive has testified that Sam Bankman-Fried used customer funds to buy real estate, make investments, and purchase celebrity endorsements.

The complaint further alleges that Bankman-Fried used commingled FTX customers' funds at Alameda to make undisclosed venture investments and acquire lavish real estate. Singh said Bankman-Fried and other FTX executives spent $8 billion worth of customer funds on real estate, venture capital investments, and campaign donations. Bankman-Fried allegedly used billions of dollars of FTX customer funds for his personal use, to make investments and millions of dollars of political contributions.

The scale of the alleged misuse is staggering. Bankman-Fried is accused of using billions of customer funds from FTX to spend lavishly and engage in speculative trading through Alameda Research, FTX’s sister company. These allegations paint a picture of a complex financial scheme where customer deposits were diverted for purposes entirely unrelated to their intended use, raising serious questions about oversight and accountability within the FTX empire.