Sam Bankman-Fried stole bil­lions for shop­ping sprees and risky invest­ments, for­mer FTX exec­u­tive says

Nishad Singh, a for­mer exec­u­tive at cryp­tocur­ren­cy exchange FTX, tes­ti­fied on Mon­day that his friend and for­mer boss, Sam Bankman-Fried, know­ing­ly siphoned bil­lions of dol­lars in cus­tomer funds to go on spend­ing sprees, which includ­ed pricey real estate pur­chas­es and endorse­ment deals with celebri­ties like Super Bowl cham­pi­on Tom Brady. 
Singh, who was class­mates and close friends with Bankman-Fried’s younger broth­er Gabriel, told jurors he had had “a lot of admi­ra­tion and respect” for Bankman-Fried but it “erod­ed” over time. 
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He added that he, Bankman-Fried, and oth­er FTX and Alame­da Research exec­u­tives includ­ing Gary Wang, Ryan Salame, and Car­o­line Elli­son had know­ing­ly defraud­ed cus­tomers and investors. 
Singh, the for­mer head of engi­neer­ing at FTX, is the lates …