Sentencing of former FTX exec Ryan Salame moved to May 28

cyptouser6 months agoCryptocurrencies News106
1205f261>

Sentencing for former FTX co-CEO Ryan Salame has been rescheduled for May 28, according to a filing in Southern New York District Court. It is unclear why his sentencing was postponed from the original date of May 1.

Salame was one of the four members of the FTX top management to be charged by the United States government along with Sam Bankman-Fried in relation to the cryptocurrency exchange’s collapse. Salame was the only one of the four — who also included former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang and former FTX top engineer Nishad Singh — who did not testify against Bankman-Fried.

All of the four executives reportedly made plea deals with U.S. prosecutors. Salame is free on a $1-million bond.

Like the other executives, Salame has pleaded guilty to federal charges relating to the FTX debacle. In addition, he faces charges on campaign finance violations connected with his girlfriend Michelle Bond’s unsuccessful bid to represent New York’s First District in the House of Representatives. Bond was defeatedin the Republican primary.

Source: Ryan Salame

Both of the charges against Salame could reportedly result in sentences of up to five years in prison. Bankman-Fried’s lawyers argued that he should not face campaign contribution violation charges because they were not part of his agreement on extradition from the Bahamas. Those charges were later folded into the conspiracy to commit fraud charges against him.

Related: Is SBF secretly behind BALD? Crypto Twitter debates latest conspiracy

Bankman-Fried claimed at trial, where he pleaded not guilty, that he did not discuss his political donations with Salame. All four executives charged with Bankman-Fried have pleaded guilty to the charges against them.

Salame’s role in the criminal activities at FTX remains somewhat ambiguous. He was reportedly not part of Bankman-Fried’s inner circle and was so shocked by the news of the exchange’s collapse that he became physically sick. However, Bahamian court records later showed that he informed the country’s Securities Commission of irregularities at the exchange in November 2022, leading to an investigation.

Magazine: YouTuber declines ‘7 figure’ sponsorships after FTX scandal: Brian Jung, Hall of Flame

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Phishing attacks threaten booming TON network amid rising TVL

Fast-rising blockchain platform The Open Network (TON) is under increasing threat from phishing atta...

Robinhood Q1 crypto trading surges 224% — SEC action ‘disappointing’

Robinhood Q1 crypto trading surges 224% — SEC action ‘disappointing’

55966e89˃Robinhood CEO Vladimir Tenev described the recent Securities and Exchange Commission Wells...

SEC has 'very low' odds of winning against Uniswap: Crypto lawyer

1205f261˃Well, it happened. We’ve known for a year the Securities and Exchange Commission was conduc...

Breaking barriers: A platform aims to overcome self-custody wallet challenges

Breaking barriers: A platform aims to overcome self-custody wallet challenges

55966e89˃Addressing the challenges of self-custody crypto wallets, zkGUN provides secure and anonymo...

Andrew Tate token surpasses MOTHER amid claims of insider activity

Andrew Tate token surpasses MOTHER amid claims of insider activity

55966e89˃A crypto token promoted by controversial social media figure Andrew Tate has surpassed the...

SBF Trial – Jury begins deliberations as closing arguments conclude

The trial of Sam Bankman-Fried (SBF) entered a pivotal phase on Nov. 3 as the prosecution delivered...