GARY WANG

In a surprising turn of events, former FTX executive Gary Wang won't serve any jail time for his role in the crypto exchange's downfall. On Wednesday, a U. S. district judge sentenced him to three years of unsupervised release and time served for four fraud-related counts. The judge, Lewis Kaplan, praised Wang's cooperation, saying he's never seen anything like it be...

Gary Wang, a co-founder of the now-defunct cryptocurrency exchange FTX, dodged a lengthy jail term. On November 20, 2024, he was sentenced to time served and three years of supervised release for his part in the crypto fraud. He was also ordered to forfeit $11 billion. Wang faced up to 50 years in prison for his crimes, which included conspiracy to commit wire fraud ...