The liquidator presiding over the FTX Chapter 11 bankruptcy was also in charge of the Enron liquidation process. He states that the mess at FTX is “unprecedented”. 
More than 20 years ago, the accounting scandal and resulting collapse of the then seventh biggest company in the US was one of truly epic proportions. 
Back in 2001 the energy giant Enron was exposed for hiding huge losses in an accounting cover-up. Today, the very same person who presided over the ensuing bankruptcy has been given the task of guiding FTX through Chapter 11.
It could be said that John Ray III might have seen it all over his career thus far. However, his comments on the “unprecedented mess” left by Sam Bankman-Fried make grim reading.
The Chapter 11 bankruptcy filed on Thursday included comments by Ray that damned the FTX management for a “complete absence of trustworthy financial information” and „compromised systems integrity.”
According to an article on the subject by Entrepreneur, Ray was

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