SDNY COURTHOUSE, Nov 20 – On the US v Sam Bankman-Fried trial, hours after the guilty verdict, a book was published: "Crypto Criminal: The Conviction of Sam Bankman-Fried: As live tweeted and investigated from inside the SDNY courthouse by Matthew Russell Lee," audio/book here.
On March 28, 2024, Inner City Press live tweeted his sentencing, to 25 years.
On September 9 cooperator Caroline Ellison's counsel filed a letter that "Ms. Ellison seeks leave to redact the names of certain people. Counsel for the government consents to this request." Document on Patreon here.
Late on September 9 Inner City Press submitted opposition to sealing. Judge Kaplan docketed the filing on September 10. See here and, on DocumentCloud, here. If SBF's suretors were unsealed, how not these eigth supporters?
Just before midnight on September 10 Ellison's lawyers filed a 60+ page memo, with redactions, asking for... no jail time, time served. Filing on Patreon here.
On September 17, amid the Sean Combs detention hearing, the US Attorney's Office filed that "the Government intends to move at sentencing, pursuant to Section 5K1.1 of the U.S. Sentencing Guidelines(the “Guidelines” or “U.S.S.G.”), that the Court sentence Ellison in light of the factors set forth in Section 5K1.1(a) of the Guidelines." Letter on Patreon here.
On September 24 after praise from the AUSA and Judge, Ellison was sentenced to 24 months, minimum security.
On October 16, counsel for Nishad Singh wrote in saying he was else involved that Caroline Ellison and deserves a sentence of time served - no prison. "Another deeply personal act of kindness came when [REDACTED]
On October 23 the US Attorney's Office wrote in, as they did on Ellison, asking for sentencing light of 5K1.1(a).
On October 29, John Ray wrote in: "Mr. Singh participated in a teleconference with the Debtors’ advisors during which he provided information about FTX’s computer systems. Mr. Singh, through his counsel, has also assisted the Debtors’ advisors by answering questions and providing information relating to the Debtors’ investigations and adversary proceedings. Mr. Singh has, through his counsel, also made substantial productions of documents to the Debtors in response to legal process. Mr. Singh has also assisted the Debtors by voluntarily returning Bahamian real estate that was purchased with Debtor funds." Full letter on Patreon here.
On October 30, Singh was sentenced to time served, with three years supervised release. Inner City Press live tweeted the proceeding and arguments here.
On November 6 Gary Wang's lawyers wrote in asking for a "non custodial" sentence on November 20 noting that "he received none of the lavish bonuses showered on his co-defendants."
On November 13 the US Attorney's Office wrote in supporting him, noting - and redacting - that "Since he began cooperating with the Government, Wang has created a tool for the detection of potential fraud in the stock market. Specifically [REDACTED].
On November 20 he got time served, Inner City Press live tweeted it - from the thread:
Wang's lawyer Ilan Graff: On his own time, Gary built a tool to help prosecutors find fraud. I will not say more here, given your Honor's ruling [on sealing]. Gary got married and is expecting his first child. He found a job far from crypto
Wang's lawyer Graff: A time served sentence would promote respect for the law. He can continue his cooperation with the government and the bankruptcy estate. He can be the devoted husband and father he so desperately seeks to be. Judge Lewis A. Kaplan: Motion?
AUSA Roos: We move under Section 5K1.1 Judge Kaplan: Granted. Mr. Wang, do you understand the conditions of supervised release? Gary Wang. Yes... I am deeply sorry to all the customers and investors in FTX who trusted us. There are so many things I could have done
Gary Wang: I will continue to try to make customers whole, and to work with the government in whatever way I can. I thank my employer. I will strive to [voice cracks] live a life... Judge Kaplan: Thank you. Mr. Roos?
AUSA Roos: It was only two years ago Mr. Wang said he wanted to cooperate. The case is over, Mr. Wang is the last to be sentenced. He was the first FTX employee to come in the door. There were two ways money was misappropriated: from accounts, and off the exchange
AUSA Roos: He decyphered half the case for us on the first day of his cooperation. He showed how the code allowed money to be misappropriated and his conversations with Sam Bankman-Fried and Nishad Singh. Mr. Wang is entirely unique, only he could do it
AUSA Roos: He is the easiest cooperator I've ever worked with. He was doing his homework. He was taking bus rides to meet with us. He did it for the FTX estate. He has this incredible skill set he deployed for Google, he can now help the government - under seal
AUSA Roos: We have some forthcoming cases, not yet public - Gary Wang's tool would have found these frauds before our Office did. You know, I've thinking about the choice Mr. Wang had on Nov 13 [2022], many would have picked a different path. He didn't go public
AUSA Roos: He was not involved in Alamada like Caroline Ellison; he was not involved in spending at the end like Nishad Singh and Ryan Salame. He could have said, I was just there. He could have stretched out the case. But he didn't. He deserves special credit
Judge Lewis A. Kaplan: I've never seen something like what happened here. Mr. Wang, please rise for the imposition of sentence. I don't think I need to say much about the extent of your cooperation. You are entitled to a world of credit. You became aware only late
Judge Kaplan: You did the right thing for yourself, and the right thing for the country. If this wasn't the biggest financial fraud in US history, it was certainly among the biggest 2 or 3. It is the judgment of this court that you be committed to time served
Judge Kaplan: Three years of supervised release... As is becoming familiar in the sentencings in this case, I express my appreciation to counsel on both sides. And I don't know what happened between Nov 13 [2022] and his willingness to cooperate, wise counsel Inner City Press @innercitypress · 8h Judge Kaplan: He has wise counsel like the sons of Bernie Madoff. Adjourned
More on X for Subscribers here, Substack here
This case is US v. Bond, 24-cr-494 (Daniels)
We'll have more on this.
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