Former FTX Exec Sentenced to 7.5 Years in Prison
Ryan Salame, the former CEO of FTX Bahamas, was sentenced to 90 months in prison by the Southern District of New York court.
In addition, he received three years of probation and was ordered to pay $6 million in forfeiture and over $5 million in restitution, as stated by the US Department of Justice.
According to prosecutor Damian Williams, Salame’s actions not only undermined public confidence in elections and the financial system, but also furthered the interests of FTX, Alameda Research, and his associates through illegal means.
Williams stated that Salame was involved in an illegal political influence campaign and unlicensed financial activities, which contributed to the rapid growth of FTX.
In September 2023, Salame pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange. He was accused of conspiring to make illegal donations and operate an unlicensed money transmitting business.
