Former FTX exec Ryan Salame will be sentenced on May 1
Ryan Salame, the former CEO of FTX Digital Markets, who pleaded guilty to two felony charges, will be sentenced in a New York court on May 1.
According to documents released on February 23 by the United States District Court for the Southern District of New York, Salameh is scheduled to appear before Judge Louis Kaplan on May 1 for his role in the cryptocurrency exchange FTX. In September 2023, the former FTX executive pleaded guilty to one count of making illegal political contributions and one count of conspiracy to conduct an unauthorized money transfer business.
Salameh is indicted along with former FTX CEO Sam “SBF” Bankman-Fried, former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang and former FTX director of engineering Nishad Singh. He admitted to the court that he made 10 million dollars in political contributions and called them “loans.” [he] He never intended to return.
The indictment centers on Salame donating to the 2022 congressional campaign of his then-girlfriend, Michelle Bond. He reportedly made campaign contributions on behalf of a corporation in violation of US law. The former FTX executive could face years behind bars after his conviction, but the US Attorney's Office is reportedly considering probation instead of prison time.
Bankman Fried's sentencing in New York is scheduled for March 28 following a November 2023 indictment on seven felony charges. On February 19, crypto reporter Tiffany Fong posted a photo of the former FTX CEO in prison, offering a rare glimpse into his life. Since the destruction.
Related: FTX Bahamas CEO Ryan Salame blows the whistle on FTX and Sam Bankman-Fried.
None of the five crypto executives involved in the FTX collapse have been convicted since prosecutors began filing criminal charges in November 2022. Ellison, Wang, Singh and Salame all pleaded guilty and accepted deals, while Bankman-Fried moved forward with a trial.
Salameh was the only party not to testify at the trial against SBF. His plea agreement reportedly includes an estimated $6 million in fines to the U.S. government, $5 million in restitution to FTX's creditors, and the surrender of two properties in Massachusetts and Porsche. At the time of publication, Salameh remains free on $1 million bond pending sentencing.
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