Former FTX executive Ryan Salame sentenced to 7.5 years in prison
This length exceeds the prosecutors’ request for Ryan Salame, a former FTX executive, to be imprisoned for five to seven years. Salame’s legal team pleaded for a much lighter sentence of no more than 18 months.
“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law,” said U.S. Attorney Damian Williams. “Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system. Today’s sentence underscores the substantial consequences for such offenses.”
The main argument of Salame’s defense was that he was ‘duped’ like others by fraud at FTX and in his relationship with Bankman-Fried, per Bloomberg.
“He has been a good man who has done much good in this world, who conspired to commit two crimes while in the thrall of a criminal leader,” Salame’s attorneys wrote in their initial appeal.
Salame pleaded guilty to violating campaign finance laws and operating an unlicensed money-transmitting business. He also faced charges of conspiracy to make illegal political contributions.
