From a story in Fortune magazine about the FTX-Crypto collapse…
John Ray III called FTX’s collapse one of the worst business failures he has seen — a “paperless bankruptcy,” fueled by an “unprecedented lack of documentation.”…
Ray, a long-time corporate restructuring expert, said the situation at FTX was worse that what he found at Enron two decades ago. Enron was one of the biggest corporate frauds in U.S. history
And from an AP story on the same subject…
U.S. Attorney Williams said Tuesday that Bankman-Fried made “tens of millions of dollars” in illegal campaign donations.
[Emphasis mine.]
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