FTX lawyers said that founder Sam Bankman-Fried and other executives used customer cash to fund personal their lifestyles. Bankman-Fried and members of his inner circle like Caroline Elisson, and Nishad Singh spent $1 billion funding stock buys, property purchases, and fraudulent loans. SBF is facing criminal charges from the DOJ while Ellison and Singh agreed to plea deals in America’s largest fraud case. FTX Trading Ltd filed a lawsuit against founder Sam Bankman-Fried and other company executives, seeking to recover
