Ever since the unprecedented fall of FTX became official, nothing has been going well for the exchange. Indeed, no day goes by without a new dark file coming out to tarnish its image. According to a final file, the Bankman-Fried company may have stolen funds from the exchange to buy houses for employees. It is NECN which would have sounded the alarm bell. The finding of embezzlement would have occurred following the bankruptcy filing of John Ray, the current president of the platform. It could be that there are more financial problems than it seems at FTX. In the file put forward, we insist on the absence of credible information from the exchange in difficulty.
FTX allegedly embezzled funds!
The chaos in which FTX finds itself is undoubtedly one of the hard blows that the crypto industry is experiencing in its young history. The worst in this series of harmful files is that there are new cases every day. The failure of FTX has a more significant significance than one would initially expect. According to information relayed by NECNthe first investigations of the court report a probable embezzlement by FTX.
The exchange would have used money to buy houses in the Bahamasas well as personal objects in the name of employees and advisers of the platform.
This new case arises as Sam Bankman-Friedhas just put his p$40 million enthouse. It is still early to give details on the identity of what would have been bought with the funds of the platform, because no clarification on the question has been made so far.
Frequently, companies do this by taking ownership of properties in the name of employees. But the case of FTX would be a little different, in view of the file of the current CEO John Ray. The latter insists that the real estate acquired was in the name of the employees and councillors. The new boss highlights the absence of real financial control at FTX. Which logically followed the disaster we know today. Worse still, even the Financial Statementss that exist are not really authentic, because they do not seem to be exact.
Conclusion
Recall that only a few days ago, FTX and Alameda Research have filed for Chapter 11 bankruptcy protection. The congress of parliament in December already promises to be loud for FTX and its ex-CEO.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
