I,Gary Wang, the former chief technology officer at FTX and a one-time member of former CEO and convicted fraudster Sam Bankman-Fried’s inner circle, has requested that he serve no prison time for his role in the crypto exchange’s 2022 implosion.
Wang will be the fourth FTX employee to be sentenced. He pleaded guilty to four criminal counts — wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud — in December 2022.
Though the charges carry a maximum combined sentence of 50 years in prison, the sentences meted out to Wang’s former colleagues are a likely better indicator for how Judge Lewis Kaplan of the Southern District of New York (SDNY) will sentence Wang on Nov. 20. Sam Bankman-Fried was sentenced to 25 years in prison in March, after pleading "not guilty" to seven fraud and conspiracy charges and being convicted. Ryan Salame, the former CEO of FTX Digital Markets, pled guilty to two charges but did not cooperate with prosecutors and received a 7.5 year sentence. Caroline Ellison, the former CEO of Alameda Research, was sentenced to 2 years in prison after pleading guilty to the same charges as Bankman-Fried. And last month, Nishad Singh, the former director of engineering, was spared jail time entirely after pleading guilty to six charges and cooperating with prosecutors.
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