The post Former FTX CTO Gary Wang Spared Prison Time For Cooperating With Prosecutors appeared first on Coinpedia Fintech News
Former FTX chief technology officer and close friend of Sam Bankman-Fried, Gary Wang, won’t have to serve prison time for his involvement in the crypto exchange’s fraud scheme. Wang is the final cooperating member of FTX founder Sam Bankman-Fried’s inner circle to be sentenced.
SAM BANKMAN-FRIED’S FORMER DEPUTY GARY WANG SPARED PRISON TIME BY U.S. JUDGE OVER HIS ROLE IN FTX CRYPTO FRAUD
— *Walter Bloomberg (@DeItaone) November 20, 2024
Notably, Wang pled guilty to four criminal counts in December 2022, including wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud and conspiracy to commit commodities fraud.
“You immediately did the right thing,” Judge Lewis Kaplan stated on Wednesday, addressing Wang. “You are entitled to a world of credit.”
Kaplan, who presided over the entire FTX case revealed
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