Not each former high FTX government is heading to jail.
Gary Wang, former FTX chief technical officer, was spared prison time by U.S. District Choose Lewis Kaplan at this time. Choose Kaplan praised Wang’s cooperation with federal authorities. Wang testified in opposition to former FTX founder and CEO Sam Bankman-Fried at his trial final fall.
Wang pleaded responsible to 4 felony counts of fraud and conspiracy.
Former FTX CEO Bankman-Fried was sentenced to 25 years in jail final yr, a sentence he filed to appeal in September. Caroline Ellison, the previous CEO of FTX-affiliated Alameda Analysis, was sentenced to 2 years in jail in September.
FTX and Alameda each filed for Chapter 11 chapter in November 2022 following a run on FTX’s property by buyers and revelations of fraudulent exercise on the firm.
