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FTX Bankruptcy Managers Hire Forensic Investigators AlixPartners: WSJ
The team, led by former SEC accountant Matt Jacques, is tasked with tracking the billions of dollars missing from FTX.
The new management at bankrupt cryptocurrency exchange FTX has hired forensic investigators from consultancy AlixPartners to trace billions of dollars that have gone missing, the Wall Street Journal reported.
The AlixPartners team will be led by Matt Jacques, a former chief accountant for the Securities and Exchange Commission's enforcement division, the Journal reported Wednesday.
STORY CONTINUES BELOW
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John Ray III, a restructuring expert who oversaw the Enron Corp. bankruptcy, took over as CEO when FTX filed for bankruptcy protection last month. Jacques’ team is tasked with tracking the funds that went missing from FTX as the firm cratered amid a liquidity freeze.
AlixPartners was hired by the U.S. Securities Investor Protection Corp. to help recover funds stolen in the Bernie Madoff case, the investigative firm’s website states.
AlixPartners declined to comment. FTX didn't immediately respond to requests for comment.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
