A Brattle team supported Dr. Peter Easton, Accountancy Professor at the University of Notre Dame, as the sole testifying expert in the criminal prosecution of Samuel Bankman-Fried, founder and CEO of the bankrupt cryptocurrency exchange FTX. Bankman-Fried faced criminal charges related to misappropriating $9 billion of customer and investor funds to benefit himself and his hedge fund, Alameda Research.
The US Attorney’s Office for the Southern District of New York retained Brattle and Professor Easton to independently analyze FTX’s internal accounting controls, financial reporting, and the flow of customer and investor funds through commingled accounts at FTX and Alameda. Professor Easton’s testimony at trial detailed the tracing of FTX customer and investor funds to outside businesses and investments, political contributions, charitable foundations, and purchases of property.
Media reports across an array of outlets commented on the clarity of Professor Easton’s insights, explanations, and visuals, including coverage in The Wall Street Journal’s The Journal podcast episode “The Trial of Crypto’s Golden Boy: Where Did The Money Go?” On November 2, 2023, the jury found Bankman-Fried guilty of each of the seven criminal charges he faced.
The Brattle team supporting Professor Easton was led by Principal and White Collar Investigations and Litigation practice Co-Leader Dr. Mark Sarro and Senior Associates Dr. Adrienna Huffman and Dr. Shastri Sandy.