The office of the United States Attorney for the Southern District of New York has accepted a guilty plea from Gary Wang, co-founder of Alameda Research.
This means that the 4 count charge against him will now be waived off
1: Engaging in a conspiracy to commit wire fraud on customers of FTX – maximum imprisonment of 20 years
2: Wire fraud on customers of FTX, and aiding and abetting of wire fraud – maximum imprisonment of 20 years
3: Conspiracy to commit commodities fraud – maximum imprisonment of 5 years
4: Conspiracy to commit securities fraud – maximum imprisonment of 5 years
That’s a total of 40 years that will be waived off.
Gary Wang will forfeit to the United States any and all property derived from the proceeds traceable to the commission of his offenses.
As part of the agreement, he will cooperate fully with the investigation, attend all meetings required testify before a grand jury upon request and commit no further crimes whatsoever
