Lawyers for former FTX Digital CEO Ryan Salame have requested a lenient sentence of 18 months in prison for their client. This was reported by CoinDesk, citing court documents.
While at FTX and Alameda, Salame managed bank deposits and fiat conversions for the exchange’s clients, participated in funding political campaigns, and led charitable initiatives in the Bahamas.
In September 2023, the executive pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange. These charges include conspiracy to make unlawful donations and operating an unlicensed money-transmitting business.
Previously, the former trading platform leader agreed to transfer ownership of his $5.9 million Bahamian home to creditors as restitution. Sentencing is scheduled for May 28, 2024.
According to his lawyers, Salame’s role in both companies was less significant in the context of the fraud. They also cited his cooperation with authorities, genuine remorse, and efforts to address substance abuse issues.
“He had absolutely no knowledge that the four people leading Alameda and FTX were lying and stealing from their clients. Ryan stole from no one. He did not lie to clients. He was deceived. When he finally understood the nature of FTX’s fraud, he was the first to inform the Bahamian authorities,” the petition states.
The information provided by Salame helped Bahamian authorities initiate an investigation into FTX, the lawyers claim.
In the defense’s view, “the relentless criticism of the exchange and [its founder] Sam Bankman-Fried in the media ensured that he would be punished for life.”
Salame became the fourth executive to plead guilty. Before him, former Alameda Research head Caroline Ellison, FTX CTO Gary Wang, and the exchange’s head of engineering Nishad Singh agreed to cooperate with the investigation.
In March, Bankman-Fried was sentenced to 25 years in prison.
In April 2024, his lawyers filed an appeal. The exchange’s founder intends to contest all seven counts of money laundering, fraud, and conspiracy.