John Ray says there was a 'complete absence of trustworthy financial information' at the company.
New FTX chief executive John Ray has hit out at the way the failed crypto exchange was run.Mr Ray said he had never "seen such a complete failure of corporate controls".
In documents filed for the first day of bankruptcy proceedings at the Bankruptcy Court for the District of Delaware, Mr Ray also criticised what he said were "erratic and misleading" public statements by his predecessor. Instead, he said, there was an "absence of an accurate list of bank accounts and account signatories".
Mr Ray's declaration to the court also says: "In the Bahamas, I understand that corporate funds of the FTX Group were used to purchase homes and other personal items for employees and advisors."
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