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FTX Co-Founder Gary Wang Asks Judge Not to Send Him to Jail

FTX Co-Founder Gary Wang Asks Judge Not to Send Him to Jail

HappyCoinNewsHappyCoinNews2024/11/08 13:11
By:HappyCoinNews

FTX co-founder Gary Wang has asked a US federal judge not to send him to prison, citing his active cooperation with authorities in the Sam Bankman-Fried fraud investigation.

In a motion filed by attorney Ilan Graff, Wang asked for credit for time spent in custody and testimony that "formed the cornerstone of the government's successful case against Bankman-Fried" at trial. The jury convicted the former FTX CEO of grand larceny and sentenced him to 25 years in prison.

Wang said he "played the smallest role" in the exchange's customer asset fraud compared to former Alameda Research CEO Caroline Ellison and FTX CTO Nishad. Singh , who also entered into plea deals with the government and testified against Bankman-Fried.

Wang argues that a prison sentence "would create an unjustifiable disparity in sentencing compared to Singh" and "would not be consistent with his culpability and exceptional cooperation."

Wang was one of the first executives of the bankrupt exchange to admit guilt and make a deal with the US Attorney's Office. He became a key witness during the Bankman-Fried trial and said that it was the former CEO who instructed him to change the FTX code that allowed Alameda to steal customers' funds for years.

Gary wants nothing more than to be a good husband and father and to continue to work with the government and other stakeholders to help FTX victims recover and reduce the risk of future fraud, the court filing said.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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