Former FTX executives Gary Wang and Nishad Singh will be sentenced later this year after testifying against their former colleague SBF.
FTX co-founder Gary Wang and FTX's former Engineering Director Nishad Singh will be sentenced later this year after testifying against their former colleague Sam Bankman-Fried .
Both could face decades in prison, but cooperators will "likely receive a heavy reduction in their sentence," based on a likely 5k1.1 motion from the government, said Braden Perry, partner at Kennyhertz Perry and a former federal enforcement attorney. That motion is a request made by the U.S. government to a federal judge to decrease a defendant's sentence due to their help in investigating or prosecuting people involved in criminal activities.
Singh also testified that during a one-on-one conversation with Bankman-Fried on the balcony of that Bahamas penthouse in September 2022, mere weeks before the exchange collapsed, Singh said he asked Bankman-Fried about Alameda's financial situation and the $13 billion of borrowed funds that he learned Alameda couldn't repay."I was blindsided and horrified. I felt really betrayed," Singh testified, though he remained at FTX.
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