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A comment on Exec who cleaned up Enron calls FTX mess 'unprecedented'. Parent comment

Re:Exec who cleaned up Enron calls FTX mess 'unprecedented' by Barrin92 on Friday November 18, 2022 @12:44PM (#33658532)
I don't think "most startups" happen to lose billions of their customers money. You can be a super-stealth-ninja-startup, when you're handling dollar sums with nine zeroes you better do things in a more orderly way than "via chats".

I worked at two small companies in the financial sector and both had compliance and legal assistance, nobody would even wire a hundred bucks anywhere without knowing where it went.

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Re:Exec who cleaned up Enron calls FTX mess 'unprecedented' by danielmarkbruce on Friday November 18, 2022 @12:50PM (#33658660)
Then they were wild outliers. Money gets wired and lost by practically all financial institutions with some frequency. It usually gets tracked down eventually... but it's way messier than it seems.
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Re:Exec who cleaned up Enron calls FTX mess 'unprecedented' by orhmeh09 on Friday November 18, 2022 @01:27PM (#33659386)
How do you know this and why should we believe you?
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Re:Exec who cleaned up Enron calls FTX mess 'unprecedented' by danielmarkbruce on Friday November 18, 2022 @01:30PM (#33659462)
Anyone who worked in finance knows, but it's also reported reasonably frequently.

Great case:

https://www.cnn.com/2021/02/16/business/citibank-revlon-laws...

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