You have been hired as a consultant to the FTX LLC. Bankruptcy Trustee following the conviction and sentencing of Sam Bankman-Fried. The FTX LLC. Bankruptcy Trustee has asked you to consult and answer the following questions: Assume that FTX, LLC, a closely held corporation, is incorporated in the State of Nevada with its offices in Antigua and Barbuda. At the time of his arrest FTX, LLC. had 50 shareholders and is NOT publicly traded. At the time of FTX LLC. filing for Bankruptcy protection, FTX had liabilities in excess of its assets. The FTX LLC. Bankruptcy Trustee asked whether the shareholders' respective personal assets are at risk to pay the debts of $8 billion. Please advise with the application of the appropriate state law. Give reasons for your answer. Make sure to incorporate Nevada's piercing the veil laws.

For Context this was my answer for the previous question:

1. Prior to the conviction did Mr. Bankman-Fried and Ms. Caroline Ellison actunethically?Identify one behavior for each Mr. Bankman-Fried and Ms. Ellison that is unethical pursuant to The Utilitarian theory. You must discuss a total of two behaviors.
   1. Mr. Bankman-Fried acted unethically by transferring FTX customer funds to Alameda for personal use, including venture investments, political donations, and real estate purchases. This behavior is unethical based on the Utilitarian Theory because it prioritized the individual's interests over the well-being of the stakeholders, which ultimately caused harm to the investors and customers who trusted FTX with their funds.
   2. Ms. Caroline Ellison acted unethically by manipulating the price of FTT, which resulted in an inflated value of Alameda's FTT assets. This behavior is unethical based on the Utilitarian Theory because it prioritized Alameda's interests over the well-being of the majority of stakeholders, leading to potential financial harm to investors and customers.