Exec who cleaned up Enron calls FTX mess ‘unprecedented’
Posted on AllSides November 17th, 2022
From The Left
AP Photo/Bruce Kluckhohn, File
The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control.
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 controls to business funds being used to buy employees homes and luxuries.
“Never in my career have I seen such a complete failure of corporate controls and such a...
