Ex-FTX executives who testified against Bankman-Fried to be sentenced

07/09/2024

Less than a minute

2024.07.09 09:46

NEW YORK (Reuters) -Sentencing hearings have been scheduled for two former executives of bankrupt cryptocurrency exchange FTX who testified against founder Sam Bankman-Fried, court records showed on Tuesday.

Nishad Singh will be sentenced on Oct. 30 and Gary Wang will be sentenced on Nov. 20 in Manhattan federal court. Each pleaded guilty to fraud.

© Reuters. Gary Wang departs the trial of former FTX Chief Executive Sam Bankman-Fried who is facing fraud charges over the collapse of the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 10, 2023. REUTERS/Cheney Orr/File photo

Bankman-Fried in March was sentenced to 25 years in prison after being convicted last year of stealing $8 billion from FTX customers, in what prosecutors called one of the largest financial frauds in U.S. history.

Prosecutors are expected to ask U.S. District Judge Lewis Kaplan to take Singh’s and Wang’s cooperation into account when determining their punishments.

07/09/2024

Less than a minute

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