New CEO of FTX outlines ‘complete failure of corporate controls’

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FTX CEO John J. Ray III, who oversaw the Enron bankruptcy, and is now overseeing the same for FTX US and its affiliates said yesterday that never in his 40-year career has he seen “such a complete failure of corporate controls and such complete absence of trustworthy financial information” as he has seen at FTX.

Ray, said he understands that in The Bahamas, corporate funds were used to purchase homes and other personal items for employees and advisors.








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