Senior District Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York. Photo: Ryland West/ALM'A World of Credit': Ex-FTX Executive Gary Wang Sentenced to Time Served Following Cooperation
“I’ve never seen anything quite like what happened here,” U.S. District Judge Lewis Kaplan told the defendant, who he said had “limited culpability" in the massive fraud that led to the collapse of the fund and some $11 billion in investor and lender losses.
November 20, 2024 at 02:49 PM
3 minute read
FTX co-founder Zixiao “Gary” Wang was sentenced to time-served on Wednesday as a federal judge commented on the scale of his cooperation against co-defendant Sam Bankman-Fried and his continued efforts to aid the government and recoup losses for victims of the massive fraud.
“I’ve never seen anything quite like what happened here,” U.S. District Judge Lewis Kaplan of the Southern District of New York told Wang, who he said had “limited culpability" in the massive fraud that led to the collapse of the fund and some $11 billion in investor and lender losses.
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