Former FTX executive Ryan Salame has been sentenced to 90 months, or 7.5 years, in prison, as announced by the U.S. Attorney’s Office for the Southern District of New York on Tuesday. This sentence comes as a result of Salame’s involvement in an unlawful political influence campaign and operating an unlicensed money-transmitting business, actions that significantly contributed to FTX’s rapid growth by circumventing legal regulations. His involvement in these federal crimes has been deemed to undermine public trust in American elections and the integrity of the financial system.
Salame had previously pled guilty to charges of conspiracy for unlawful political contributions, defrauding the Federal Election Commission, and operating an unlicensed money-transmitting business. In an attempt to receive a more lenient sentence, his attorneys highlighted his cooperation with U.S. authorities, his role in initiating the FTX investigation, and the lifelong stigma he faces due to the collapse of FTX. Despite these efforts, Salame received a substantial prison sentence, emphasizing the severity of his offenses.
In addition to his prison term, Salame has been sentenced to three years of supervised release and is required to pay over $6 million in forfeiture and more than $5 million in restitution. The case also involves other former Alameda-FTX executives, Caroline Ellison and Gary Wang, who have pled guilty and sought plea deals in hopes of avoiding jail time. This sentencing marks a significant development in the legal repercussions stemming from the FTX scandal, highlighting the substantial consequences for those involved in financial crimes and unlawful political activities.
0 Comments