How Sam Bankman-Fried Misused Billions in Customer Funds
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Sam Bankman-Fried engaged in fraudulent conduct by misappropriating billions of dollars in customer funds deposited on FTX.com, directing funds to Alameda, and making false representations to customers about the safety and custody of their assets. This conduct, including significant spending unrelated to FTX operations, ultimately led to the collapse of FTX.com and subsequent bankruptcy.