John Ray III: ‘never in my career have I seen such a complete failure of corporate controls’ despite 40 years of overseeing bankruptcies
In a stinging court filing posted on Thursday John Ray III, the new boss of bankrupt crypto exchange FTX, said the company had suffered an “unprecedented” and “complete failure of corporate controls”.
Ray has overseen some of the biggest bankruptcies ever, including the collapse of energy giant Enron, and has 40 years of experience in restructuring companies. He said he had never seen anything as bad as FTX.
Continue reading…John Ray III: ‘never in my career have I seen such a complete failure of corporate controls’ despite 40 years of overseeing bankruptciesIn a stinging court filing posted on Thursday John Ray III, the new boss of bankrupt crypto exchange FTX, said the company had suffered an “unprecedented” and “complete failure of corporate controls”.Ray has overseen some of the biggest bankruptcies ever, including the collapse of energy giant Enron, and has 40 years of experience in restructuring companies. He said he had never seen anything as bad as FTX. Continue reading…