Former FTX Executive Ryan Salame’s Sentencing Rescheduled to May 28
Ryan Salame, a former executive of the collapsed cryptocurrency exchange FTX, will face sentencing on May 28 in a New York courtroom.
The sentencing, which was originally set for May 1, has been rescheduled for reasons that remain unclear. Salame is scheduled to appear before Judge Lewis Kaplan of the United States District Court for the Southern District of New York at 11 a.m.
Key points:
- Ryan Salame has admitted to conspiracy charges linked to unauthorized political contributions.
- Salame’s sentencing was rescheduled from May 1 to May 28 for undisclosed reasons.
- Prosecutors claim that Salame and his associates allegedly made more than 300 political contributions.
- Salame was one of four FTX executives charged alongside former CEO Sam Bankman-Fried, but did not testify against him.
- Salame is facing additional charges for campaign finance violations related to his girlfriend’s unsuccessful congressional bid.
Read more: Uniswap Labs Receives Wells Notice From SEC
In September, Salame pleaded guilty to a conspiracy to make unlawful political contributions. In addition, he also pleaded guilty to a conspiracy to operate an unlicensed money-transmitting business.
FTX’s Salame made more than 300 political donations
According to prosecutors, Salame and his co-conspirators made more than 300 political donations, amounting to “tens of millions of dollars.” Prosecutors deemed these donations unlawful due to their use of corporate funds or straw donors.
A straw donor is an individual who illegally uses someone else’s money to make a political contribution under their own name.
Salame was one of four FTX executives charged alongside the exchange’s former CEO, Sam Bankman-Fried. The other executives include former Alameda Research CEO Caroline Ellison, FTX Co-Founder Gary Wang, and the exchange’s former Engineering Director Nishad Singh. Â
Read more: Binance Is Considering Multiple Jurisdictions For Headquarters: CEO
In addition to the charges related to FTX, Salame faces separate charges stemming from campaign finance violations linked to his girlfriend Michelle Bond’s unsuccessful campaign for a seat in the U.S. House of Representatives.
Each of the charges against Salame carries a potential sentence of up to five years in prison. Recently, Bankman-Fried received a sentence of nearly 25 years in prison for his involvement in the collapse of FTX.
