Never seen "such a complete failure" of corporate controls, says new FTX CEO who also oversaw Enron bankruptcy

CNBC ^ | 17 November 2022 | Rohan Goswami

[zeestephen]

After reading all of Ray's comments, I get the feeling he is trying to give Bankman-Fried a criminal escape plan by pretending to be a wide-eyed innocent who had no idea how to run a financial corporation.

[Codeflier]

Will not help. The forensic auditors are going to have an easy time with this. It seems the criminal activities were not obfuscated in an intricate way.

[Ken522]

Rostin Behnam, the Chairman of the CFTC, had to have known what was going on ....

[Red Badger]

FOLLOW THE MONEY.........................

[ImJustAnotherOkie]

All we can hope for is the Clawback’s will be brutal.

[RummyChick]

Money corrupts. I don’t know what the real story here is with Dr Gold but it shouldnt be too hard to prove whether the allegations are true

Internal Strife at America’s Frontline Doctors: Simone Gold Accused of Misusing $$$
https://www.medpagetoday.com/special-reports/exclusives/101640

[MMusson]

We know these little shits have billions in crypto squirreled away on thumb drives.

[NWFree]

“ accounting, audit, cash management, cybersecurity, human resources, risk management, data protection and other systems that did not exist”

That’s the beauty of cryptoscam - you don’t need all that stuff

[Blood of Tyrants]

The only wife-eyed innocent thing that he did was to make it so easy to track the fraud and theft. Maybe he was counting on the Rats he was funneling money to to cover up for him.

[zeestephen]

One interesting legal issue still to be cleared up...

Do USA criminal statutes extend to something as novel and as nebulous as crypto-currency?

"43,000"

[Organic Panic]

He did everything right. The democrats all got their cut. Only Soros gave the democrats more cash. His mistake was bribing the Clinton’s and Obama’s to hang out “with the cool kids.” Their egos wouldn’t allow some snot nose geek to take on the “effective altruism” money laundering scams run by CLinton and Obama.

[Rummyfan]

A failure of corporate controls? From what I have read, there were no corporate controls.

[dynachrome]

That horse boke out of the barn and died of old age.

[Rummyfan]

[Rummyfan]

[Rummyfan]

[Drew68]

FOLLOW THE MONEY.........................

[Drew68]

Beat me to it. :-)

[PIF]

Is this new CEO one of the upper echelon that had group sex with in the building during work hours led by the former CEO?

[Boogieman]

“Do USA criminal statutes extend to something as novel and as nebulous as crypto-currency?”

If they sold crypto for actual money, then yes of course they extend to it. Fraud is fraud.