Nishad Singh, one of Sam Bankman-Fried's alleged co-conspirators, gave emotionally compelling testimony during the trial, but his reliability was questioned during cross-examination
Singh accused Bankman-Fried of making venture investments with customer funds, calling it "evil
However, it was revealed that Singh himself had taken out a loan from FTX to buy a $3.7 million house after learning about the misuse of customer funds
Defense lawyer Mark Cohen cross-examined Singh aggressively, questioning his credibility and pointing out inconsistencies in his actions
The defense's performance in the trial had been criticized for being meandering and confused, but they started to make some valid points during Singh's cross-examination
The prosecution's witnesses, including Caroline Ellison, had been credible, while the defense aimed to undermine the alleged co-conspirators' credibility
Singh's testimony suggested that Alameda Research received a substantial line of credit from FTX to avoid auto deleveraging, a risk management system that could upset customers
A bug in Alameda's system caused discrepancies in the amount Alameda owed FTX, leading to concerns about financial obligations. Singh did not seem concerned at the time
Singh testified that he became aware of FTX's misuse of customer funds in September 2022, and he purchased a luxurious house on Orcas Island in October 2022
borrowing $3.7 million from FTX, which appeared inconsistent with his moral stance against frivolous spending
Singh's loans from FTX lacked proper documentation, raising questions about their legality and suggesting a potential element of embezzlement
The defense's performance improved during Singh's cross-examination, and it appeared that they managed to raise doubts about his credibility