Sam Bankman-Fried's FTX had customers wire money to North Dimension, a mysterious company with a fake electronics retail website, NBC News reported. Money sent to North Dimension would end up funding Alameda Research's trading activity, the SEC alleged. The North Dimension website has been deactivated, but had misspelled words and claimed to sell laptops and phones. In the sprawling drama of Sam Bankman-Fried's fallen crypto empire, the obscure, low-profile North Dimension played a key role in putting FTX customer funds into the hands of affiliate Alameda Research and SBF's other ventures. And according to NBC News, North Dimension operated a fake online electronics retail shop, which has now been disabled and archived. The website did not disclose any connection to Bankman-Fried or his companies. The SEC complaint against ex-Alameda CEO Caroline Ellison and FTX cofounder Gary Wang — who have admitted to wrongdoing — alleges that FTX told clients to wire funds to North Dimension if they wanted to trade on the crypto exchange. But those were then used to fund Alameda's trading activities. "Bankman-Fried had directed FTX to have customers send funds to North Dimension in an effort to hide the fact that the funds were being sent to an account controlled by Alameda," the SEC said in the complaint. FTX filed for bankruptcy last month as reports surfaced that billions in customer funds were sent to Alameda.
