FTX’s new boss blasts Bankman-Fried’s ‘delusional life’

Source: afr.com afr.com

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Mr Ray said he wanted to “correct material misstatements and omissions” in a sentencing submission in which a lawyer for Bankman-Fried wrote that statements made during a recent bankruptcy proceeding showed that the “harm to customers, lenders, and investors is zero” because FTX was solvent when it entered bankruptcy proceedings. “As the lead professional of a very large team who has spent over a year stewarding the estate from a metaphorical dumpster fire to a debtor-in possession approaching a confirmed plan of reorganisation that will return substantial value to creditors, I can assure the court that each of these statements...