Ex-FTX exec scraps vacating guilty plea, refers matter to partners case

Former FTX Digital Markets co-CEO Ryan Salame pleaded guilty to two felony charges in September 2023 and was sentenced to 90 months in prison in May 2024.

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Partner of ex-FTX exec hit with campaign finance charges

Michelle Bond, who ran for a seat in the US House of Representatives in 2022, faces four charges related to violations of campaign finance law.

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Ex-FTX exec asks for delay reporting to prison after dog attack

Ryan Salame was scheduled to report to prison on Aug. 29 after being sentenced to 90 months for charges related to the misuse of FTX user funds.

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Former FTX Executive Ryan Salame Agrees to Forfeit $5.9 Million Bahamas House in Plea Agreement

Ryan Salame, the former co-CEO of FTX Digital Markets, has reached a plea agreement in a criminal case. As part of the agreement, Salame has agreed to transfer his $5.9 million Bahamas house to FTX Digital Markets Ltd. instead of paying $5.6 million in restitution in cash. (Read More)

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FTX's Former Executive Ryan Salame Sentenced to Over 7 Years for Fraud and Conspiracy

Ryan Salame, once a high-ranking executive at thecryptocurrency exchange FTX, has been sentenced to more than seven years in prison forfraud charges and conspiracy to operate unlicensed money-transmitting business,the Financial Times reported.

Salame's Guilty Plea and Sentencing

Ryan Salame, aged 30, pled guilty to election fraudcharges and conspiracy to operate an unlicensed money-transmitting business.His crimes were linked to Sam Bankman-Frieds crypto empire FTX, which crumbled inlate 2022. Salame is among four former top FTX managers who admitted guilt,joining Caroline Ellison, Nishad Singh, and Gary Wang. However, unlike hiscolleagues, Salame did not testify against Bankman-Fried.

In March, Bankman-Fried was sentenced to a 25-yearsentence for embezzling billions from FTX customers and investors. Salame'slesser but still significant sentence reflects his role in facilitatingunlawful political donations and other financial irregularities.

Salame joined Alameda Research, an affiliate of FTX, in 2019 and later became co-chief executive of FTXs Bahamian branch. He played a key role in FTXs political contributions, acting as a "straw donor" to channel over $100 million into US political campaigns ahead of the 2022 midterm elections. These donations aimed to obtain favor withboth major political parties.

Salame admitted that these funds came from an Alamedasubsidiary and were categorized as loans he never intended to repay. Hisactivities involved meeting with high-profile politicians, including RepublicanSenator Mitch McConnell and former Congressman Kevin McCarthy.

Prosecutors and Defense Arguments

Prosecutors argued for a seven-year sentence,emphasizing the gravity of the campaign finance offense, which involved morethan 300 political donations. They described it as "one of the largest-ever inAmerican history." Salame ultimately received a 90-month prison sentence.

Salames lawyers had sought a lighter sentence, nomore than 18 months, arguing that Salame was as shocked as anyone by FTXsfraudulent activities. They contended he was not part of Bankman-Friedsclosest circle and did not anticipate the collapse of the crypto giant.

Damian Williams, the US Attorney in Manhattan,underscored the broader impact of Salames actions. He stated that Salamescrimes significantly aided FTXs rapid growth by circumventing legalboundaries, thereby eroding public trust in American elections and thefinancial system.

Last year, US authorities reportedly traced a private jetthat Salame purchased while at FTX. Sources indicated that the jet was to beincluded in the plea deal, either being surrendered or sold to help recovercustomers' funds. Besides that, Salame is said to have bought five restaurantsin Massachusetts, valued at USD $6 million, after he joined the company.

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Why was Ryan Salame given a sentence longer than prosecutors recommended?

U.S. authorities had requested a judge impose a sentence of five to seven years on the former FTX Digital Markets co-CEO, but one ordered Ryan Salame to spend 90 months in prison.

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Ex-FTX exec Ryan Salame asks for no more than 18 months in prison

The former FTX Digital Markets co-CEO pleaded guilty to two felonies and was one of the only figures connected with the defunct crypto exchange who didnt testify at SBFs trial.

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FBI Raids the Home of FTX Executive Ryan Salame

Former FTX Digital Markets co-CEO Ryan Salame is being investigated for the role he played in Sam Bankman-Frieds empire. He is currently under scrutiny for the $24 million in political...

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Former FTX exec Ryan Salame’s home searched by FBI: Report

It’s unclear what the Bureau was searching for in the home of the former co-CEO of FTX Digital Markets, who worked closely with Sam Bankman-Fried.

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FTX Bahamas Co-CEO Tipped Off Bahamian Authorities About Customer Funds Sent to Alameda

Ryan Salame told the SCB on November 9 that FTX sent customer funds to Alameda to cover its financial losses.

Continue reading FTX Bahamas Co-CEO Tipped Off Bahamian Authorities About Customer Funds Sent to Alameda at DailyCoin.com.

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FTX flexes its muscle by pumping $4M to a Republican PAC

In a show of strength, FTX Digital Markets co-CEO Ryan Salame has contributed $4 million to a new political action committee or PAC that claims to support “forward-looking Republican candidates who want to protect America’s long-term economic and national security.” As revealed by Politico, the FTX top exec will unveil the new PAC dubbed American Dream Federal […]

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FTX Digital Co-CEO Launches Crypto PAC as Midterm Elections Draws Near

As the midterm election in the U.S. is near in November, Ryan Salame, the co-CEO of FTX Digital Markets has launched a new Political Action Committee (PAC) dubbed the American Dream Federal Action. (Read More)

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Former FTX executive Ryan Salames prison sentence reduced by 1 year

Bureau of Prison records indicate that former Alameda Research CEO Caroline Ellisons sentence was also reduced by three months.

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Ryan Salame requests self-surrender date be pushed to Dec. 7

The former FTX executive claimed the need for continuing medical treatment after being bitten by a dog in June.

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Ex-FTX exec not worried about reporting to prison on Oct. 11

Ryan Salame pleaded guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission after FTXs collapse.

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FTXs former head of engineering asks judge to spare him prison sentence

Nishad Singh’s lawyers claim he is an “uncommonly selfless individual” They believe he should receive a lighter sentence because of his limited role in FTX’s collapse The former head of engineering at FTX has asked a judge to spare him a prison sentence, according to lawyers representing him. According to Bloomberg, Nishad Singh’s lawyers filed […]

The post FTX’s former head of engineering asks judge to spare him prison sentence appeared first on CoinJournal.

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Convicted FTX executive Ryan Salame is officially in prison custody

During a recent appearance on Tucker Carlson's podcast, Salame claimed federal prosecutors unfairly targeted him for political reasons. 

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Ex-FTX exec scheduled to report to prison after judge denies request

Judge Lewis Kaplan cited prosecutors opposition, which noted that Ryan Salame appeared physically recovered and entirely unimpaired during a recent Tucker Carlson interview.

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Ryan Salame claims US unfairly targeted him over Republican donations

Former FTX co-CEO Ryan Salame claims his Republican campaign contributions led to unjust charges and contrasts his case with that of SBF.

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Former FTX Executive Ryan Salame in Plea Deal Negotiations with Prosecutors

A former top executive of a subsidiary of FTX is reportedly in talks with federal prosecutors to plead guilty to charges related to the collapsed cryptocurrency exchange. He has become the latest former executive to exit from FTX, Sam Bankman-Fried's firm who pleaded not guilty in January.

According to Bloomberg, Ryan Salame, the former Co-Chief Executive at FTX Digital Markets, could take a guilty plea as soon as next month. However, according to the sources who shared information with the publication on the condition of anonymity, it remains unclear whether he will testify against Bankman-Fried.

Ditching Bankman-Fried?

The other former FTX’s top executives, Caroline Ellison, Gary Wang, and Nishad Singh, have since pleaded guilty to playing a role in the exchange's multi-billion dollar fraud. However, Salame has not been charged in connection to the collapsed exchange, and the details of his plea have not been finalized.

Salame could potentially face charges related to the violation of the regulations for political donations. According to Bloomberg, the former executive, who headed FTX’s Bahamas subsidiary, was a megadonor to political parties in the US. He reportedly funded the campaigns of his girlfriend, Michelle Bond, who unsuccessfully vied for the Republican nomination for a seat in the New York Congress.

FTX's Political Donations

Additionally, Salame is believed to have received huge loans from Alameda Research, the hedge fund of FTX. The Prosecutors in the case have accused Bankman-Fried of allegedly directing his former executives to make political donations aimed at influencing policies for the cryptocurrency space.

Besides that, authorities have reportedly traced a private jet purchased by Salame while working for FTX. According to the sources who shared information with Bloomberg, the plane could be surrendered as part of the plea deal or sold to recover customers’ funds. Additionally, Salame reportedly purchased five restaurants in Massachusetts worth USD $6 million after joining the company.

Meanwhile, Finance Magnates reported a week ago that FTX had filed a motion to exclude its Dubai-based subsidiary from the ongoing bankruptcy proceedings in the US. This month, the exchange filed a series of court applications proposing a plan to relaunch its offshore operations.

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