FTX former Chief Know-how Officer Gary Wang has requested leniency from the decide forward of his Nov. 20 sentencing, highlighting his cooperation with regulation enforcement and his testimony towards Sam Bankman-Fried, based on Nov. 6 sentencing memo.
In keeping with the submitting:
“Gary is profoundly remorseful and has taken extraordinary steps to help the Authorities and others engaged on behalf of FTX victims. For these causes and people set forth under, we respectfully request that the Court docket impose a time-served sentence.”
Wang’s restricted data
Wang’s authorized group urged the courtroom to contemplate a non-custodial sentence, noting that he had restricted consciousness of the legal actions below investigation.
They additional claimed that he solely realized of the scheme when it was already in progress. His attorneys additionally emphasised that he performed a minor function within the offense and was the primary among the many witnesses to cooperate totally.
Furthermore, the attorneys famous Wang didn’t obtain substantial bonuses and earned considerably much less from FTX and Alameda Analysis, not like a few of his friends. Additionally they argued that imposing a jail time period would create an pointless disparity, failing to replicate his decrease degree of guilt and his cooperation with the authorities.
The attorneys concluded:
“Gary is a quiet younger man. However his actions since FTX’s collapse have spoken volumes in regards to the depth of his regret and the power of his character. Gary desires nothing greater than to be a very good husband and father and proceed his work with the Authorities and different stakeholders to facilitate FTX victims’ restoration and mitigate the chance of future frauds.”
Wang is one in all three FTX executives who pleaded responsible and testified towards Bankman-Fried throughout his trial final 12 months. His testimony was essential to Bankman-Fried’s conviction and subsequent 25-year jail sentence.
In the course of the trial, Wang defined that Bankman-Fried had instructed him to change FTX’s code, permitting Alameda Analysis entry to buyer funds. This transformation enabled Alameda to make use of these funds, which turned central to the fraud allegations.
Wang additionally testified that when he questioned Bankman-Fried about Alameda’s entry to buyer funds, he was assured there was ample collateral to cowl the withdrawals—an assurance that later proved false.
