Regarding Mr. Bankman-Fried Case, FTX Trading’s new CEO John J. Ray III, a lawyer tapped to lead the collapsed crypto exchange’s restructuring, officially stated that:
Sam Bankman-Fried no longer has an ongoing role at the company and does not speak on their behalf
The new CEO also restates that Sam Bankamn-Fried has completely given up all the positions from FTX_Official, FTX US, Alameda Research Ltd. and subsidiaries after accepting responsibility for the crisis at the exchange and seeing his $16 billion fortune vanish.
John J Ray is no stranger to high-profile restructurings and is well-known for his work at Enron. After the company had been under his leadership, $20 billion was returned to the energy company’s creditors. He has also been the administrator in many other prominent bankruptcy cases like Nortel Networks and Overseas Shipholding Group.
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