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Not every former FTX executive is heading to prison.
It was Gary Wang, former CTO of FTX Saves prison time By U.S. District Judge Lewis Kaplan today. Judge Kaplan praised Wang’s cooperation with federal authorities. Wang testified against former FTX founder and CEO Sam Bankman-Fried at his trial last fall.
Wang pleaded guilty to four criminal counts of fraud and conspiracy.
Former FTX CEO Bankman Fried was sentenced to 25 years in prison last year, a sentence he served Filed for appeal In September. Caroline Ellison, former CEO of FTX’s Alameda Research, was sentenced to two years in prison in September.
FTX and Alameda filed for Chapter 11 bankruptcy in November 2022 after investors fled FTX’s assets and fraudulent activity at the company was uncovered.
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