Ryan Salame, the former co-CEO of FTX Digital Markets, who entered a guilty plea to two felonies, will be sentenced in a New York courthouse on May 1.
Salame will appear before Judge Lewis Kaplan on May 1 to face punishment relating to his role in fraud at the defunct cryptocurrency exchange FTX, according to a docket issued on February 23 in the United States District Court for the Southern District of New York.
In September 2023, the ex-FTX CEO entered a guilty plea to one charge of unauthorized political contribution and one charge of conspiring to run an unregistered money-transfer company.
Salame was indicted in the same case as FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, former Alameda Research CEO Caroline Ellison, and former FTX CEO Sam “SBF” Bankman-Fried.
$10 million in political contributions was acknowledged by him in court, and he “called them loans, which [he] never intended to repay.”
The allegations also centered on Salame’s contributions to Michelle Bond, his ex-girlfriend,’s congressional candidacy in 2022.
According to reports, he may have broken US law by contributing to campaigns on behalf of corporations. The former FTX CEO may spend years in prison after being sentenced, but probation has allegedly been suggested by the U.S. Attorney’s Office in lieu of jail time.
Following his conviction on seven felony counts in November 2023, Bankman-Sentried Fried’s sentencing in New York is set for March 28. A picture of the former CEO of FTX in jail was published by crypto writer Tiffany Fong on February 19, providing a unique glimpse into his life following his incarceration.
Since the time that prosecutors started filing criminal allegations in November 2022, none of the five cryptocurrency executives connected to FTX’s demise have received a sentence. The only party not to testify against SBF during the trial was Salame.
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