- Current FTX CEO John Ray III, the lawyer who represented plaintiffs after the collapse of Enron, said that the empire run by Bankman-Fried was the worst example of mismanagement he has ever witnessed.
- “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said in court documents.
- “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
