A Controller In The Metaverse. No Proper Tracking Of Cash Or Employees. New Ftx Ceo Describes Haphazard Management Of Sam Bankman Fried.
That uncertain view is from John Ray, FTX’s new CEO, in a filing in the US Bankruptcy Court for the District of Delaware. Ray, it should be noted, has more than 40 years of legal and restructuring experience, including chairmanship of the energy company Enron that collapsed in 2001. The filing highlights the haphazard management of Sam Bankman-Fried, the former chief executive. According to Ray, there was no accurate list of bank accounts and account signatories, much less attention to the creditworthiness of bank partners....