John Ray III, the new CEO of collapsed crypto exchange FTX, has claimed that Sam Bankman-Fried’s crypto empire had virtually no corporate controls and a surprising lack of financial and other record-keeping.
In prepared remarks released ahead of his testimony, Ray, a bankruptcy expert who previously oversaw the aftermath of the collapsed energy giant Enron, said he has never seen such an “utter failure” of corporate controls in his entire career. …
Read More: New FTX CEO Says ‘Unacceptable Practices’ by ‘Inexperienced and Unsophisticated Individuals’ Led to FTX Collapse – Here’s What Happened
In prepared remarks released ahead of his testimony, Ray, a bankruptcy expert who previously oversaw the aftermath of the collapsed energy giant Enron, said he has never seen such an “utter failure” of corporate controls in his entire career. …
Read More: New FTX CEO Says ‘Unacceptable Practices’ by ‘Inexperienced and Unsophisticated Individuals’ Led to FTX Collapse – Here’s What Happened
