The public is only beginning to understand the full extent of alleged crimes committed by Sam Bankman-Fried (better known as SBF), a cryptocurrency entrepreneur who lost billions of dollars after his exchange, FTX, was revealed to be little better than a Ponzi scheme. SBF's net worth plunged from $10 billion to effectively nothing in the course of a few days. He has declared bankruptcy and was recently questioned by the police of the Bahamas, where he resides.
John Ray III, who was brought in to manage Enron following that company's self-destruction in 2001, is now the CEO of FTX. In a court filing last week, he said he has never seen such "a complete failure of corporate control," including at Enron.
