FTX co-founder Gary Wang avoids prison time for role in crypto fraud
Gary Wang, a former executive of bankrupt cryptocurrency exchange FTX, who testified against founder Sam Bankman-Fried, attends his sentencing on fraud charges at the United States District Court in Manhattan in New York City, U.S., November 20, 2024.
Brendan Mcdermid | Reuters
Gary Wang, co-founder and ex-technology chief of FTX, was sentenced Wednesday to time served and three years of supervised release on each of the four counts he pled guilty to, becoming the fifth and final ex-employee of the collapsed crypto exchange to be punished. Wang was also ordered to forfeit $11 billion, the same as the other co-defendants.
Wang, who took the stand in the trial against his former boss Sam Bankman-Fried, faced a maximum sentence of 50 years…
