https://arstechnica.com/tech-policy/2022/11/founder-ran-ftx-as-personal-fiefdom-many-assets-stolen-or-missing-court-hears/

FTX co-founder and former CEO Sam Bankman-Fried ran the failed cryptocurrency exchange as his "personal fiefdom" and many of its assets have disappeared, an FTX lawyer said at a hearing in US Bankruptcy Court in Delaware on Tuesday. "A substantial amount of assets have either been stolen or are missing," said James Bromley, a Sullivan & Cromwell partner who is representing FTX, according to a New York Times report.

"What we have here is a worldwide, international organization, but which was run as a personal fiefdom of Sam Bankman-Fried," Bromley said, according to The Wall Street Journal. "FTX was in the control of inexperienced and unsophisticated individuals, and some or all of them were compromised individuals."