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Not every former top FTX executive is heading to prison .
Gary Wang , former FTX primary technical officer , wasspared prison timeby U.S. District Judge Lewis Kaplan today . Judge Kaplan praise Wang ’s cooperation with federal authorities . Wang testified against former FTX founder and CEO Sam Bankman - Fried at his trial last nightfall .
Wang plead guilty to four felony counts of fraud and conspiracy .
Former FTX CEO Bankman - Fried was sentenced to 25 years in prison last yr , a sentence hefiled to appealin September . Caroline Ellison , the former chief executive officer of FTX - affiliated Alameda Research , wassentencedto two year in prison in September .
FTX and Alameda both filed for Chapter 11 bankruptcy in November 2022 following a discharge on FTX ’s assets by investors and revelations of deceitful activity at the company .
