Gary Wang, co-founder of FTX, has asked a federal judge not to send him to prison. He is testifying against his former business partner, Sam Bankman-Fried, in a fraud case. Wang’s lawyer stated that his client should not be incarcerated as he provided help to the prosecutors and his role in the scheme was less significant.
Wang pleaded guilty to fraud and conspiracy when FTX went bankrupt in 2022 and is scheduled to receive his sentencing on November 20th. Wang’s lawyer argued that he should receive a lighter sentence than other executives, as he was not personally involved in providing false information to investors.
Additionally, Wang’s attorney pointed out that a prison sentence would create an unfair disparity with another executive who avoided jail time after cooperating with the government. Wang’s lawyer also mentioned his client’s personal circumstances, stating that Wang is expecting the birth of his first child soon after his sentencing date.
