{"id":324187,"date":"2022-11-17T20:10:54","date_gmt":"2022-11-17T20:10:54","guid":{"rendered":"https:\/\/omni48.com\/?p=324187"},"modified":"2022-11-27T20:14:36","modified_gmt":"2022-11-27T20:14:36","slug":"exec-who-cleaned-up-enron-calls-ftx-mess-unprecedented-2","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/exec-who-cleaned-up-enron-calls-ftx-mess-unprecedented-2","title":{"rendered":"Exec who cleaned up Enron calls FTX mess &#8216;unprecedented&#8217;"},"content":{"rendered":"<p>NEW YORK (AP) &#8212; The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a &#8220;complete failure&#8221; of corporate control. Crypto exchange giant FTX collapses, files for bankruptcy The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX&#8217;s operations under its founder Sam Bankman-Fried, from a lack of security controls to business funds being used to buy employees homes and luxuries. &#8220;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,&#8221; Ray said. &#8220;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.&#8221; Ray was appointed CEO on November 11, after the company was near collapse and<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (AP) &#8212; The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a &#8220;complete failure&#8221;<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36,1],"tags":[],"class_list":["post-324187","post","type-post","status-publish","format-standard","hentry","category-markets","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/324187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=324187"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/324187\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=324187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=324187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=324187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}