FTX + SBF Chapter 11 (Bankruptcy) Court Filing by John J. Ray III, Nov 17, 2022 is part of . You can jump to any part in this filing . This is part 10 of 20. HackerNoon’s Legal PDF Series here Feature Image: Stable Diffusion AI, Prompt “Audit Firm CPA Metaverse” III. ACTION TAKEN SINCE MR. BANKMAN-FRIED’S DEPARTURE C. Financial Reporting 55. The FTX Group received audit opinions on consolidated financial statements for two of the Silos – the WRS Silo and the Dotcom Silo – for the period ended December 31, 2021. The audit firm for the WRS Silo, Armanino LLP, was a firm with which I am professionally familiar. The audit firm for the Dotcom Silo was Prager Metis, a firm with which I am not familiar and whose website indicates that they are the “ ” first-ever CPA firm to officially open its Metaverse headquarters in the metaverse platform Decentraland. 56. I have substantial concerns as to the information presented in these audited financial statements, especially with respect to the Dotcom Silo. As a practical matter, I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication of the financial circumstances of these Silos. 57. The Debtors have not yet been able to locate any audited financial statements with respect to the Alameda Silo or the Ventures Silo. 58. The Debtors are locating and securing all available financial records but expect it will be some time before reliable historical financial statements can be prepared for the FTX Group with which I am comfortable as Chief Executive Officer. The Debtors do not have an accounting department and outsource this function. Continue Reading Here

Decentraland

HR nightmare: It's impossible to fetch a complete list of FTX employees or contractors

Nobody knew how much cash FTX held, according to Chapter 11 Filing

Too Long; Didn't Read

Make resilience your competitive advantage

The Audit Firm for Ftx.com was the first of its kind to HQ in the Metaverse #cantmakethisshitup

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Untitled Story

20% of All General Searches in the U.S. Go Through the Default on User-Downloaded Version of Chrome

4 silos, 103 subsidiaries, 13 entities in-debt: That is the Corporate Structure of FTX

According to SBF, Binance CEO CZ caused the bank run & never intended to acquire FTX

Alameda Loaned 1 Billion to Sam Bankman-Fried and 2.3 Billion to 'Paper Bird Inc' (aka SBF also)

At SBF's direction, Caroline materially misled investors that Alameda was fine. It was not.

20% of All General Searches in the U.S. Go Through the Default on User-Downloaded Version of Chrome

4 silos, 103 subsidiaries, 13 entities in-debt: That is the Corporate Structure of FTX

According to SBF, Binance CEO CZ caused the bank run & never intended to acquire FTX

Alameda Loaned 1 Billion to Sam Bankman-Fried and 2.3 Billion to 'Paper Bird Inc' (aka SBF also)

At SBF's direction, Caroline materially misled investors that Alameda was fine. It was not.

Light-Mode

Classic

Newspaper

Dark-Mode

Neon Noir

Minty

HN StartUps