I just don't understand the scale of it. Ten billion dollars is huge. It takes months if not years, even to lose that much in gambling. Did nobody notice anything off? Was the entire company in on it?
"In the Bahamas, I understand that corporate funds of the FTX Group were used to purchase homes and other personal items for employees and advisors"
Sam Bankman-Fried's hedge fund lent billions to... Sam Bankman-Fried (Paper Bird is his entity), so that's at least part of the answer where the money went.
The theory makes sense, but he refused to name names. It might be that the benefactors are too powerful, but probably he's lying.