of disgraced crypto exec Sam Bankman-Fried, the House Financial Services Committee held a hearing to discuss what led to the collapse of his company, the cryptocurrency exchange FTX., including conspiracy to commit wire fraud, securities fraud, money laundering, and attempts to avoid finance regulations.
It's an especially noteworthy testimony — which went on for four excruciating hours — considering Ray's career. The lawyer has aof picking up the pieces and restructuring companies after they fall apart in spectacular fashion. "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," he"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," he added.
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