https://www.nytimes.com/events/dealbook-summit#speakers
Here is who the scam guy appears next to:
Posted on 11/17/2022 10:41:15 AM PST by zeestephen
Newly appointed FTX CEO John Ray III...wrote that part of his remit would be to implement controls and basic corporate standards such as "accounting, audit, cash management, cybersecurity, human resources, risk management, data protection and other systems that did not exist, or did not exist to an appropriate degree, prior to my appointment."
(Excerpt) Read more at cnbc.com ...
corporate controls are only for the non-woke!!!
if your woke, you can do anything
if your a republican they investigate until they find something you might be guilty of!
Not everyone likes them. That’s why they had to keep kicking us off social media, because we were reminding them of that inconvenient fact.
LOL. So does Ray know fraud, graft, and corruption when he sees it?
Surprisingly, the page is still available to view: https://www.nytimes.com/events/dealbook-summit#speakers
The featured Speakers are as follows:
Eric Adams
Mayor, New York City
Sam Bankman-Fried
Founder, FTX
Shou Chew
C.E.O., TikTok
Larry Fink
Chairman and C.E.O., BlackRock
Reed Hastings
Founder and Co-C.E.O., Netflix
Andy Jassy
President and C.E.O., Amazon
Van Jones
CNN Host, Author, and Founder, Dream.Org
Meredith Kopit Levien
President and C.E.O., The New York Times
Scarlett Lewis
Founder, Jesse Lewis Choose Love Movement
Benjamin Netanyahu
Former Prime Minister of Israel; Current Leader of the Likud party
Mike Pence
48th Vice President of the United States and Author, “So Help Me God”
Priscilla Sims Brown
President and C.E.O., Amalgamated Bank
Secretary Janet L. Yellen
U.S. Department of the Treasury
President Volodymyr Zelensky
Ukraine
Mark Zuckerberg
Founder, Chairman and C.E.O., Meta
FLS +
Performers from Broadway’s Freestyle Love Supreme
Bingo! They setting the stage for “poor good-hearted Sam” was an innocent victim when he was actually laundering money for the Biden Administration and Zelensky. Not to mention likely grand larceny, fraud and front-running.
The co-CEO of FTX, Ryan Salame, also made many millions of dollars of political donations.
What a nest of nasty dirty rats.
His public statements on Social Media since this broke, alone are going to help put him away....
This guy was a huckster, and not a very bright one either...
Cream is not the only bovine product that floats.. and this guy was a giant one of the non cream items.
Crypto is by far the biggest scam of my lifetime, bar none.
“That’s the beauty of cryptoscam”
Blockchain makes everything ok....
Bwahahahahahahaha.
I'm sure they promised him immunity - and now they are refusing to take his calls.
https://www.nytimes.com/events/dealbook-summit#speakers
Here is who the scam guy appears next to:
EEMARKETWATCH.COM
Published: Nov. 17, 2022
By Nathan Vardi
10 crazy things detailed in FTX’s bankruptcy filing
1. Most of FTX’s digital assets have not been secured
As of Thursday, Ray made clear that while he now controls the various FTX trading and exchange platforms and Bankman-Fried’s crypto hedge fund Alameda Research, he’d “located and secured only a fraction of the digital assets” he hoped to recover. In fact, Ray said only some $740 million of cryptocurrency had been secured in new cold wallets. Ray cited at least $372 million of unauthorized transfers that had taken place on the day FTX and Alameda filed for bankruptcy last week, and the “dilutive ‘minting’ of approximately $300 million in FTT tokens by an unauthorized source” in the days after the filing. FTT tokens were created by FTX to facilitate trading on its exchange and made up a big chunk of Alameda’s assets.
2. Nobody knows who the biggest customer creditors are of FTX.
FTX.com and FTX.US had customers around the world who used its cryptocurrency exchanges and platforms. But Ray said he was unable to create a list of FTX’s top 50 creditors that included customers.
3. Alameda Research loaned $4.1 billion out to entities, including Bankman-Fried and his closest partners.
There have been reports that FTX lent out billions of dollars in customer funds to Bankman-Fried’s hedge fund, Alameda Research. But on Thursday, Ray revealed that Alameda had made $4.1 billion of related-party loans that remained outstanding at the end of September. This included a $1 billion loan Alameda made to Bankman-Fried himself, a $543 million loan made to FTX cofounder Nishad Singh, and $55 million borrowed by FTX co-CEO Ryan Salame.
4. FTX corporate funds were used to buy personal homes
Bankman-Fried lived in a luxury resort in the Bahamas, where FTX was also based. There, bankruptcy filings say, corporate funds of FTX “were used to purchase homes and other personal items for employees and advisors.” Ray said in his filing that there is no documentation for the transactions and loans associated with these real estate purchases, which were recorded in the personal name of employees and advisors.
5. Personalized emojis to approve disbursements
To demonstrate the lack of disbursement and appropriate business controls at FTX, Ray pointed out that FTX employees “submitted payment requests through an on-line ‘chat’ platform where a disparate group of supervisors approved disbursements by responding with personalized emojis.”
6. Alameda Research was one of the world’s biggest hedge funds
According to the bankruptcy filing, Alameda’s balance sheet showed $13.46 billion in total assets as of the end of September. That’s roughly equivalent to the assets managed by famous billionaire hedge fund traders like Bill Ackman, Paul Tudor Jones and Jeffrey Talpins.
8. Alameda had a secret exemption on FTX.com
Ray’s filing on Thursday indicated that Bankman-Fried’s Alameda hedge fund might have had a trading edge on the FTX.com trading platform. According to the filing, Alameda had a “secret exemption” from “certain aspects of FTX.com’s auto-liquidation protocol.”
9. Customer liabilities are not reflected in FTX financial statements
Ray expects that the FTX.US exchange and trading platform, which serviced American customers, will have “significant liabilities arising from crypto assets deposited by customers through the FTX US platform.” He believes the FTX exchange that was used by FTX clients outside the U.S. could also have significant client liabilities. But none of these liabilities are reflected in the financial statements that were prepared while Bankman-Fried ran FTX, Ray said.
10. Ray has no confidence in any FTX balance sheet
Time and again in the filing, Ray offers the same disclaimer after detailing FTX-related financial statements. He notes that many of the balance sheets at FTX and Alameda are unaudited, and that because they were produced while Bankman-Fried ran and controlled the company, “I do not have confidence in it.”
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