TechFlow reports, citing Bloomberg, that during SBF's trial, Caroline Ellison, CEO of Alameda Research, FTX co-founder Gary Wang, and FTX engineering head Nishad Singh became key witnesses. They stated that SBF directed them to help transfer billions of dollars in FTX customer funds to Alameda, an affiliated hedge fund in which Bankman-Fried held a 90% stake, as part of a fraud scheme. Under cooperation agreements with prosecutors, they have already admitted their guilt, corroborating their testimony.
Some criminal defense lawyers suggest Ellison, Wang, and Singh may avoid prison sentences or receive minimal ones. However, even if the three escape incarceration, they could still face other forms of punishment. The government may compel them to return illicit gains and pay restitution to victims.
SBF could face decades in prison when sentenced in March.
