Ex-Bankman-Fried Ally Gary Wang Avoids Prison Over FTX Fraud (3)

FTX co-founder Gary Wang has been spared from prison over his role in the multibillion dollar fraud at the cryptocurrency exchange after prosecutors praised his early cooperation in the case.

Wang, whose assistance helped convict the orchestrator of the fraud, Sam Bankman-Fried, was sentenced to time served Wednesday by US District Judge Lewis A. Kaplan in Manhattan.

The judge said Wang, 31, had done the right thing for both himself and the country by cooperating so quickly to help unravel one of the biggest financial frauds in US history. Kaplan appeared taken aback by the prosecution’s strong advocacy for ...