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Home Web 3

What's happening to the other culprits involved in the FTX collapse?

November 7, 2023
in Web 3
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What's happening to the other culprits involved in the FTX collapse?
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TL;DR

  • From what we’ve learnt – Caroline, Nishad, and Gary are all hoping to avoid jail time in exchange for their cooperation.

  • The problem is: alongside Sam, they’re collectively responsible for a cool $10B in losses…and common sentence recommendations max out at $550M, so jail time could be on the cards.

Full Story

So Sam Bankman-Fried has been found guilty on all charges, and will likely spend many-a-year in federal prison.

READ ALSO

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…but what’s going to happen to the people that helped put him there?

Specifically, his co-conspirators-turned-informants: Caroline Ellison, Nishad Singh, and Gary Wang?

They provided crucial evidence for the prosecution…but they also pleaded guilty to the charges laid against them, each facing between 50-110 years in prison.

In exchange for their cooperation, prosecutors agreed to send 5k motions on their behalf.

Which are kind of like letters that say:

‘Look. They did a bad thing, but each gave it their best to right some of their wrongs, so go easy on them, yeah?’

From what we’ve learnt – Caroline, Nishad, and Gary are all hoping to avoid jail time in exchange for their cooperation.

The problem is: alongside Sam, they’re collectively responsible for a cool $10B in losses…and common sentence recommendations max out at $550M.

So prison could well be on the cards for them.

See also  Only 8 Altcoins Have Broken ATH Vs Bitcoin Since FTX’s Collapse
Tags: CollapseculpritsFTXhappeninginvolvedWhat039s

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024

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EDITOR'S PICK

As investors flock to Bitcoin’s ‘safe-haven,’ is $80K inevitable for BTC?

As investors flock to Bitcoin’s ‘safe-haven,’ is $80K inevitable for BTC?

November 9, 2024
Hedera boosts proof of concept to automate RECs for its partners

Hedera boosts proof of concept to automate RECs for its partners

December 1, 2023
DAO Labs and Telos Launch Telos Hub for Social Mining Growth

DAO Labs and Telos Launch Telos Hub for Social Mining Growth

January 18, 2024
Ethereum NFTs Exposed: Is the BAYC Hype Train Derailing?

Ethereum NFTs Exposed: Is the BAYC Hype Train Derailing?

March 19, 2024

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