This is really unbelievably related to FTX.
The firm that was involved in money transfers with Ukraine and millions in donations to the Democrat Party used basic accounting software to keep its records.
For any corporate accountant, this is simply stunning.
QuickBooks is a great tool for a small company or startup but it’s not suitable for a billion-dollar company. An auditor would see this as a major issue with a company the size of FTX.
Former auditor Bob Bishop reports:
FTX keeps its accounting records on QuickBooks according to the latest bankruptcy filing. QuickBooks is only suitable for small businesses, not FTX. @PeterSchiff @WallStreetSilv @Bitboy_Crypto @business @ASavageNation @mike_maloney pic.twitter.com/JsmerixJDY
— Bob Bishop (@BobBish40288847) December 10, 2022
It’s very likely that FTX was involved in all types of transactions involving dark money. Some believe FTX was involved in millions if not billions in transactions with the Democrats. It would be difficult to manage this on QuickBooks.
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This is really bad.