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Sentencing hearings have been scheduled for two former executives of bankrupt cryptocurrency exchange FTX, Nishad Singh and Gary Wang, who testified against founder Sam Bankman-Fried, court records showed. Singh's sentencing is set for October 30, 2024. The news comes amid revelations about the extensive legal fees incurred during the FTX bankruptcy process. Brian Glueckstein, an attorney from Sullivan & Cromwell, has billed 11 hours a day, five days a week for 18 months, totaling over 4,000 hours at an hourly rate of $2,375, amounting to $9.5 million. Overall, Sullivan & Cromwell has billed more than 168,000 hours in the bankruptcy case. Meanwhile, FTX customers await payouts.
Former FTX execs Nishad Singh and Gary Wang will face sentencing later this year https://t.co/AEVFIcNITr
Former FTX executives Nishad Singh and Gary Wang will be sentenced this fall, after pleading guilty to criminal charges and testifying against their former boss Sam Bankman-Fried last year. @nikhileshde @cheyenneligon reports https://t.co/5v5hg1fVmj
While FTX customers await payouts, lawyers are continuing to drain the estate: One attorney at the firm Sullivan & Cromwell has billed 11 hour days, five days a week for 18 months straight Hourly rate of $2,375, over ~4,000 hours in the bankruptcy = $9.5 million for 1 attorney https://t.co/1eLOPNHUf6
