November 27, 2022

New FTX chief slams ‘full failure of company

New FTX chief slams ‘complete failure of corporate

New FTX chief slams ‘complete failure of corporate

The brand new boss of bankrupt crypto change FTX has slammed the administration of founder Sam Bankman-Fried, saying the corporate’s monetary statements couldn’t be trusted and {that a} enterprise as soon as valued at $32bn lacked any important inner controls.

John Ray III, a veteran insolvency skilled who oversaw the liquidation of Enron, mentioned in a court docket submitting on Thursday that FTX was the worst case of company failure that he had seen in his greater than 40-year profession.

“By no means in my profession…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *