Former FTX Executive Ryan Salame to Be Sentenced in May

On May 1, Judge Lewis Kaplan of the Southern District of New York will sentence Ryan Salame, the former CEO of FTX’s Bahamian division. This was reported by Cointelegraph, citing court documents.

In September 2023, Salame pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange. The charges include conspiracy to make unlawful donations and conspiracy to operate an unlicensed money transmitting business.

Salame stated that he made political donations in his name “in support of initiatives put forward by others but backed by Sam Bankman-Fried” (SBF). According to him, the funds were provided by Alameda Research and “classified as loans.”

It was previously expected that the sentencing would occur in March. According to the publication, the U.S. Attorney’s Office has proposed probation instead of prison time for Salame.

In November 2022—two days before FTX filed for bankruptcy—Salame, who headed the company’s Bahamian division, warned local authorities of potential fraud.

He became the fourth top executive to plead guilty. Previously, former Alameda Research head Caroline Ellison, FTX’s CTO Gary Wang, and the exchange’s engineering director Nishad Singh agreed to cooperate with the investigation.

As reported, on November 2, 2023, SBF was found guilty on seven counts of money laundering, fraud, and conspiracy. He faces up to 115 years in prison, with sentencing scheduled for March 28.