Not each former FTX high government is headed to jail.
Gary Wang, former CTO of FTX, was spared jail time in the present day by US District Decide Lewis Kaplan. Decide Kaplan praised Wang's cooperation with federal authorities. Wang testified towards former FTX founder and CEO Sam Bankman-Fried in court docket final fall.
Wang pleaded responsible to 4 counts of fraud and conspiracy.
Former FTX CEO Bankman-Fried was sentenced to 25 years in jail final 12 months, which he appealed in September. Caroline Ellison, the previous CEO of FTX-affiliated Alameda Analysis, was sentenced to 2 years in jail in September.
FTX and Alameda each filed for Chapter 11 chapter in November 2022 after traders raided FTX's belongings and uncovered fraudulent exercise on the firm.
