Judge Lewis Kaplan of the United States District Court issued an unusually lenient ruling.
Wang had already entered a guilty plea for his part in the FTX bankruptcy proceedings.
The trading platforms fraud case against Gary Wang, a former senior executive of the now-defunct FTX exchange, will not result in a prison sentence. Judge Lewis Kaplan of the United States District Court issued an unusually lenient ruling in Manhattan Federal Court.
Wang had already entered a guilty plea for his part in the FTX bankruptcy proceedings before this sentence hearing. Prosecutors claimed that Wang did not spend any of the $8 billion in customer cash, so Judge Kaplan relied on their word. Wang wrote the code that allowed Sam Bankman-Fried (SBF) to steal the money.
Multiple Considerations
Additionally, Gary Wang’s attorney Ilan Graff pleaded with Judge Kaplan to commute his prison sentence due to his client’s cooperation with the prosecution. The prosecutor’s office used this backin
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