Activity tagged "FTX"
Interesting: in the government’s sentencing submission for FTX’s Gary Wang, they note he has “created a tool for the detection of potential fraud in the stock market” and is “in the process of developing a similar tool for cryptocurrency markets” for government use.
FTX’s Nishad Singh was sentenced to no jail time, and three years of supervised release. He had pleaded guilty to fraud and money laundering charges, as well as a campaign finance charge, and cooperated with the prosecution.
That just leaves defendant Gary Wang left to be sentenced. I imagine he’s feeling some relief after hearing of Singh’s non-custodial sentence.
This also really underscores the sentencing benefit from cooperation. Ryan Salame, who pleaded guilty but did not cooperate, received 7 1/2 years for a campaign finance charge and a money transmitting charge.
Guilty or coerced? Ryan Salame’s last interviews before prison
Caroline Ellison: A woman with agency or a helpless pawn?
Issue 67 – Bug out bitcoin
Issue 66 – Pretensions to relevance
FTX founder Sam Bankman-Fried has just appealed his conviction. He argues, among other things, that the judge didn't like him.
https://www.courtlistener.com/docket/69143697/28/united-states-of-america-v-bankman-fried/
FTX executive Caroline Ellison is seeking a sentence of time served for her guilty plea on seven charges pertaining to the collapse of the FTX cryptocurrency exchange. Her sentencing submission paints her as someone whose “moral compass [was] warped” by Sam Bankman-Fried.
The probation department is also recommending time served, with three years of supervised release. Like Sam Bankman-Fried, she’s hit the maximum of 43 points on the sentencing guidelines, which would equate to a life sentence.
Exhibits include more of her diary entries to support the story that she was deeply unhappy and self-medicating with Adderall, and desperate for Sam Bankman-Fried’s approval and affection.
“I think a good night’s sleep is probably equivalent in productivity to about 7.5mg adderall, with a much nicer side effect profile”