Former FTX exec Ryan Salame sentenced to 90 months in prison

• Ryan Salame sentenced to 90 months in prison.
• Former FTX executive’s sentencing comes two months after former CEO Sam Bankman-Fried was sentenced to 25 years in prison.

Former FTX executive Ryan Salame has been sentenced to 90 months in prison, the United States Attorney for the Southern District of New York Damian Williams has announced.

Salame previously pleeded guilty

Salame’s sentencing comes two months after former FTX CEO Sam Bankman-Fried received a 25-year sentence.

Previously, Salame had pleaded guilty to DOJ charges, including conspiracy to make unlawful political donations, plans to deceive the Federal Election Commission and conspiracy to run an unlicensed money transfer business.&

The prosecution said he worked on these alongside Bankman-Fried and other top FTX executive Nishad Singh.

As well as the 7.5-year sentence, the court has imposed a $6 million forfeiture and over $5 million in restitution order against the ex-FTX exec. He also faces a sentence of three years of supervised release.

In a statement following the sentencing, Williams said:

“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.& 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.”

Salame became co-CEO of FTX Digital Markets Ltd, the Bahamas-based affiliate of the FTX crypto exchange that collapsed in 2022.

The post Former FTX exec Ryan Salame sentenced to 90 months in prison appeared first on CoinJournal.

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