According to a press release issued by the US Southern District of New York on Tuesday (28th), Ryan Salame, former CEO of FTX Digital Markets, has been sentenced to 90 months (7.5 years) in prison. In addition, Salame has been sentenced to three years of supervision after release and ordered to pay over 6 million US dollars in fines and over 5 million US dollars in restitution.
US Federal Prosecutor Damian Williams stated in a statement: Salame admitted last year to conspiring to commit illegal campaign contributions, deceiving the Federal Election Commission, and operating an unlicensed money transfer business, hoping to receive leniency from the court and shorten his sentence to 18 months. His lawyer, in requesting leniency and a shorter sentence, pointed out that Salame initiated the FTX investigation, cooperated with US authorities, and faced lifelong shame due to FTX’s collapse.
Former CEO of Alameda Research, Caroline Ellison, and co-founder of FTX, Gary Wang, also pleaded guilty and sought plea agreements to avoid imprisonment.
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Related reports: “FTX Founder SBF’s First Interview After Sentencing, Claims to be ‘Haunted by What’s Lost’ Every Day” and “FTX Bankruptcy: A Record of 3 Major Processes, Witness the Rise and Fall of FTX at Once”.
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