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Home » What caused Ryan Salame to receive a sentence exceeding the prosecution’s recommendation?
What caused Ryan Salame to receive a sentence exceeding the prosecution's recommendation?
What caused Ryan Salame to receive a sentence exceeding the prosecution's recommendation?

What caused Ryan Salame to receive a sentence exceeding the prosecution’s recommendation?

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By admin on 2024-05-28 Regulations Security

Former FTX Digital Markets co-CEO Ryan Salame has been sentenced to more than seven years in federal prison after pleading guilty to two felony charges. Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York ordered Salame to spend 90 months in prison, a longer sentence than even prosecutors recommended. In response to his sentencing, Salame stated that the situation would become interesting quickly and emphasized that he had no plans to flee the United States. Salame and his partner, Michelle Bond, welcomed a child in November 2023. The judge’s decision reflects the seriousness of the fraud at FTX, including Salame’s involvement in a multi-million dollar campaign finance fraud scheme. Other former cryptocurrency executives, including Sam “SBF” Bankman-Fried and Changpeng “CZ” Zhao, have also been sentenced to prison, although for shorter periods than initially requested by prosecutors. Several other figures connected to FTX and Alameda Research could face sentencing this year. Salame’s case is unique as it involves campaign finance law violations in an election year, which may have influenced the judge’s decision. Sunil Kavuri, a witness in Bankman-Fried’s trial, suggested that the judge took into account the impact Salame had on FTX victims. Bankman-Fried is currently in an Oklahoma federal facility, while Zhao has yet to report to a facility in Oregon or Washington.

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