FTX bankruptcy filings highlight ‘complete failure of corporate controls’
The new CEO of FTX called out Sam Bankman-Fried and the rest of the failed crypto exchange’s leadership for a “complete failure of corporate controls” in a bankruptcy court filing.
The filing stated:
“In terms of the celebrity of Mr. Bankman-Fried, his unconventional leadership style, his incessant and disruptive tweeting since the Petition Date, and the almost complete lack of dependable corporate records, these Chapter 11 Cases are unprecedented.”
This is a developing story.
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Author: Larry DiTore
