CHART: FTX and Alameda execs get a total of 34.5 years in prison
Today’s news that FTX co-founder Gary Wang has been sentenced to time served and supervised release for his role in the multi-billion dollar FTX fraud scheme means that only three of the five executives involved will serve any time in prison for their part in the theft. Wang pleaded guilty to four counts — wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud — and was sentenced on Wednesday to time served and three years of supervised release on each. The longest sentence was reserved for the mastermind of the theft, FTX founder and majority owner of Alameda Research Sam Bankman-Fried. He was sentenced to 25 years in prison. The second-longest sentence was handed to FTX Digital Markets Chief Executive Ryan Salame, who was sentenced to seven and a half years for his role in using customer funds for influence-purchasing political donations. Read more: FTX sues Binance and CZ for ‘fraudulent t