The founder of the crypto exchange FTX manipulated ESG to convince investors that everything was above board before filing for bankruptcy, investor says.
overseeing the bankruptcy proceedings, said he had never "seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information."
Longsdale told Fox News: "The whole framework of ESG becomes sort of a joke once it gets captured and distorted in these ways." Sam Bankman-Fried, founder of FTX, speaking in Washington, D.C., to the Institute of International Finance a month before his company filed for bankruptcy.He said that even though FTX had "terrible governance" and was "basically a Ponzi scheme," it was "rated more highly than companies running our energy sector because the energy sector is disfavored with Democrats and disfavored with the Left.
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