New management at the crashing cryptocurrency company FTX has hired a group of forensic investigators from AlixPartners, an advisory firm that partners with companies dealing with bankruptcy and restructuring and also has a deep commitment to left-wing causes such as ESG (Environmental, Social, and Governance), Black Lives Matter, and radical gender ideology, to help lead FTX out of its current financial quagmire, including its loss of billions of dollars of customer funds.
According to the Wall Street Journal, the forensic team is being led by a former chief accountant for the Securities and Exchange Commission’s enforcement division, Matt Jacques.
Reports have varied, but anywhere between $2 billion to $8 billion of FTX customer funds inexplicably vanished in early November and AlixPartners has been tasked with tracking the exact number and what happened. At the same time, disgraced former CEO Sam Bankman-Fried had a personal net worth of around $16 billion but that reportedly diminished by 94 percent when he resigned from his position on November 11.
After Bankman-Fried left, the company went under the leadership of John J. Ray, who fired three executives in late November, all deputies appointed by Bankman-Fried, as the company deals with bankruptcy and restructuring under the new leadership of John J. Ray.
Bankman-Fried is being investigated by the Justice Department for potentially manipulating the market in a way that led two interrelated cryptocurrency companies, TerraUSD and Luna, to collapse in a chain that eventually led to his own company's downfall.
The Securities and Exchange Commission and Federal authorities have also been investigating if FTX broke the law when Bankman-Fried transferred money from FTX to Alameda.
FTX was allegedly transferring customers' money to Alameda Research in order to cover a gap in their funding.
In an unhinged interview for Vox, SBF blamed his personal and FTX's downfall on Caroline Ellison, the CEO of Alameda Research, who is his ex-girlfriend.
He said he "thought Alameda had enough collateral to reasonably cover it" in reference to his funneling large sums of money from FTX to Alameda.
According to their website, "AlixPartners has worked with clients around the world for more than forty years, helping businesses respond to challenges when everything is on the line."
The firm also has a deep commitment to "Diversity & Inclusion," which is featured prominently on the website's "about" section. They write their "(D&I) strategy allows employees the freedom to be their authentic selves at work." The have a deep commitment to "LGBTQ rights." They also say an "example of dignity in practice is the Black Lives Matter movement."
They write, "diversity and inclusion is our primary focus in ESG matters" and have followed the example of Blackrock.
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