{"id":16904,"date":"2024-11-20T14:57:16","date_gmt":"2024-11-20T15:57:16","guid":{"rendered":"http:\/\/medexperts.pro\/?p=16904"},"modified":"2024-11-20T16:29:15","modified_gmt":"2024-11-20T16:29:15","slug":"gary-wang-a-top-ftx-executive-is-given-no-prison-time","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=16904","title":{"rendered":"Gary Wang, a Top FTX Executive, Is Given No Prison Time"},"content":{"rendered":"
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Mr. Wang is the last close colleague of the FTX founder Sam Bankman-Fried to be sentenced for the fraud that caused the crypto exchange to collapse in 2022.<\/p>\n

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Gary Wang, who was a close friend and colleague of the disgraced cryptocurrency mogul Sam Bankman-Fried<\/a>, on Wednesday avoided prison time for his role in the collapse of the FTX crypto exchange after he cooperated with U.S. prosecutors.<\/p>\n

Mr. Wang is the second key cooperating witness in the FTX case to receive a sentence that does not involve any prison time. Instead, a federal judge sentenced him to three years of supervised release.<\/p>\n

Judge Lewis A. Kaplan, who has presided over the case, told Mr. Wang that he deserved a \u201cworld of credit\u201d for the extent of his cooperation. \u201cYou immediately did the right thing,\u201d Judge Kaplan said.<\/p>\n

Weeks after FTX failed in 2022, Mr. Wang, now 31, pleaded guilty to participating in the theft of $8 billion from the exchange\u2019s customers. He agreed to cooperate with prosecutors, and testified for the government<\/a> at the 2023 trial of Mr. Bankman-Fried, whom Mr. Wang had known since they were teenagers<\/a>.<\/p>\n<\/div>\n<\/div>\n

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Mr. Bankman-Fried was found guilty on seven counts of fraud, conspiracy and money laundering, and was sentenced to 25 years in prison. He has appealed<\/a> the conviction.<\/p>\n

Before Mr. Wang\u2019s sentencing, his lawyers requested that he serve no prison time, while prosecutors also called for leniency.<\/p>\n

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Mr. Wang is the last close colleague of the FTX founder Sam Bankman-Fried to be sentenced for the fraud that caused the crypto exchange to collapse in 2022.Gary Wang, who was a close friend and colleague of the disgraced cryptocurrency mogul Sam Bankman-Fried, on Wednesday avoided prison time for his role in the collapse of the FTX crypto exchange after he cooperated with U.S. prosecutors.Mr. Wang is the second key cooperating witness in the FTX case to receive a sentence that does not involve any prison time. Instead, a federal judge sentenced him to three years of supervised release.Judge Lewis A. Kaplan, who has presided over the case, told Mr. Wang that he deserved a \u201cworld of credit\u201d for the extent of his cooperation. \u201cYou immediately did the right thing,\u201d Judge Kaplan said.Weeks after FTX failed in 2022, Mr. Wang, now 31, pleaded guilty to participating in the theft of $8 billion from the exchange\u2019s customers. He agreed to cooperate with prosecutors, and testified for the government at the 2023 trial of Mr. Bankman-Fried, whom Mr. Wang had known since they were teenagers.Mr. Bankman-Fried was found guilty on seven counts of fraud, conspiracy and money laundering, and was sentenced to 25 years in prison. He has appealed the conviction.Before Mr. Wang\u2019s sentencing, his lawyers requested that he serve no prison time, while prosecutors also called for leniency.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":16906,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-16904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/16904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16904"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/16904\/revisions"}],"predecessor-version":[{"id":16907,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/16904\/revisions\/16907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/16906"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}