The sentencing for former FTX co-CEO Ryan Salame has been rescheduled for May 28, as stated in a filing in the Southern New York District Court. The reason for the postponement from the original date of May 1 remains unclear.
Salame, along with Sam Bankman-Fried, was one of the four FTX top managers charged by the United States government in connection with the collapse of the cryptocurrency exchange. Unlike the other three, which included former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang, and FTX top engineer Nishad Singh, Salame did not testify against Bankman-Fried.
All four executives reportedly reached plea deals with U.S. prosecutors. Salame is currently free on a $1 million bond.
Similar to the other executives, Salame has pleaded guilty to federal charges relating to the FTX debacle. Additionally, he faces charges of campaign finance violations in relation to his girlfriend Michelle Bond’s unsuccessful congressional bid in New York’s First District. Bond was defeated in the Republican primary.
Both charges against Salame could potentially lead to prison sentences of up to five years. Bankman-Fried’s legal team argued that he should not be charged with campaign contribution violations as they were not part of his extradition agreement from the Bahamas. However, these charges were later included in the conspiracy to commit fraud charges against him.
During the trial, where he pleaded not guilty, Bankman-Fried claimed that he did not discuss his political donations with Salame. All four executives charged alongside Bankman-Fried have pleaded guilty to their respective charges.
Salame’s involvement in the criminal activities at FTX remains somewhat unclear. He was reportedly not part of Bankman-Fried’s inner circle and was so taken aback by the news of the exchange’s collapse that it made him physically ill. However, records from the Bahamian court later revealed that he informed the country’s Securities Commission about irregularities at the exchange in November 2022, which led to an investigation.
Source: Ryan Salame
In other news related to the FTX scandal, YouTuber Brian Jung has declined “7 figure” sponsorships following the controversy surrounding FTX.