In defensive interview, Sam Bankman-Fried claims he’s broke and committed no fraud

Posted by & filed under Communication, Control, Decision Making, Ethics & Social Responsibility, International Business, Leadership, Management, Strategy.

Description: Former FTX CEO Sam Bankman-Fried, in possibly the understatement of 2022, said Wednesday, “I’ve had a bad month.” The former billionaire added that he “didn’t do a good job” at upholding his responsibilities to regulators, customers and investors in a hotly anticipated conversation with CNBC’s Andrew Ross Sorkin at the DealBook Summit.

Source: CNBC.com – video report

Date: Dec 01, 2022

Link: https://www.cnbc.com/2022/11/30/former-ftx-ceo-sam-bankman-fried-says-i-didnt-ever-try-to-commit-fraud.html

Questions for discussion:

  • Summarize your understanding of the events that lead to the collapse of FTX.
  • How would you characterize public perception of Bankman-Fried’s behavior and explanations.
  • How do you think this story will impact business decision-making in the future?