John Ray III, the newly appointed CEO of FTX who previously oversaw the restructuring of the infamous energy company Enron, says that he has never before seen “such a complete failure” of corporate controls as he has with FTX.
that FTX Chief Executive Officer John Ray III was blunt in a declaration to the U.S. Bankruptcy Court for the District of Delaware, stating that “in his 40 years of legal and restructuring experience,” he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
According to Ray, Bankman-Fried’s systems and regulatory compliance controls were so lackadaisical that they amounted to gross negligence. “The concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals” was unprecedented, Ray said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Let’s enjoy this FTX bankruptcy filing togetherThe Enron cleanup guy says FTX is worse than Enron.
Consulte Mais informação »
'I do not have confidence in it', says John Ray re/ FTX US Financials | HackerNoonFTX + SBF Chapter 11 (Bankruptcy) Court Filing by John J. Ray III, Nov 17, 2022 is part of HackerNoon’s Legal PDF Series. Part 3/20: the WRS Silo - ftx sbf
Consulte Mais informação »
FTX 'did not have appropriate corporate governance', 'never had board meetings', says John Ray | HackerNoonFTX + SBF Chapter 11 Court Filing by John Ray is part of HackerNoon’s Legal PDF Series. This is Part 8 of 20: New Governance Structure - ftxsbfchapter11court ftx
Consulte Mais informação »
New CEO says FTX mismanagement was worse than Enron: 'Complete failure'The new CEO of FTX said the company suffered a total management failure and that the mess at the cryptocurrency company is worse than any he's ever seen, including the historic scandal at Enron.
Consulte Mais informação »
Exec who cleaned up Enron calls FTX mess ‘unprecedented’The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX’s operations under its founder Sam Bankman-Fried.
Consulte Mais informação »
Exec who cleaned up Enron calls FTX mess ‘unprecedented’The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX’s operations under its founder Sam Bankman-Fried, from a lack of security co…
Consulte Mais informação »