{"id":1784,"date":"2024-05-15T22:06:34","date_gmt":"2024-05-15T22:06:34","guid":{"rendered":"https:\/\/cryptd.in\/former-ftx-exec-ryan-salame-requests-18-months-prison-sentence\/"},"modified":"2024-05-15T22:06:34","modified_gmt":"2024-05-15T22:06:34","slug":"former-ftx-exec-ryan-salame-requests-18-months-prison-sentence","status":"publish","type":"post","link":"https:\/\/cryptd.in\/fi\/former-ftx-exec-ryan-salame-requests-18-months-prison-sentence\/","title":{"rendered":"Entinen FTX:n johtaja Ryan Salame vaatii 18 kuukauden vankeustuomiota"},"content":{"rendered":"<p>The lawyers of Ryan Salame, a former executive of the bankrupt cryptocurrency exchange FTX, who pleaded guilty to his role in the firm\u2019s collapse, have requested that a court sentence their client to 18 months in prison in an upcoming hearing scheduled for May 28.<\/p>\n<p>According to a <a href=\"https:\/\/x.com\/innercitypress\/status\/1790592113450561648\" target=\"_blank\" rel=\"noopener\">sentencing memorandum<\/a> seen by Inner City Press, Salame\u2019s attorneys are asking the court for leniency in the form of the recommended jail term in addition to the restitution and forfeiture obligations to which their client has agreed.<\/p>\n<h2>Salame Seeks 18-Month Jail Term<\/h2>\n<p>While Salame worked for FTX and its sister trading firm Alameda Research, he handled customer fiat conversions and wire deposits, managed political contributions, and led charitable initiatives using Alameda funds in The Bahamas.<\/p>\n<p>One year after the FTX empire imploded in November 2022, Salame <a href=\"https:\/\/cryptopotato.com\/fourth-ftx-executive-set-to-plead-guilty-in-ftx-fraud-case\/\">pleaded<\/a> guilty to criminal charges related to the events, including conspiracy to defraud the Federal Elections Committee and operating an unlicensed money-transmitting business. He also agreed to cooperate with United States authorities alongside his former colleagues Nishad Singh, Caroline Ellison, and Gary Wang.<\/p>\n<p>As part of the agreement, Salame paid a fine of $6 million to the U.S. government and $5 million to FTX debtors, <a href=\"https:\/\/cryptopotato.com\/former-ftx-exec-agrees-to-transfer-5-9-million-bahamas-property-in-plea-deal\/\">forfeiting<\/a> two Massachusetts homes and his 2021 Porsche car. The charges the former FTX executive pleaded guilty to could land him up to ten years in prison; however, his lawyers request a jail term of less than two years.<\/p>\n<p>Salame\u2019s attorneys argued in the memorandum filing that their client\u2019s role in FTX was more operational and less related to fraud. They said he did not know that the four core leaders of FTX and Alameda had conspired to lie and steal customers\u2019 funds. The lawyers insisted that Salame did not lie or steal from anyone.<\/p>\n<h2>Lawyers Say Salame Was Duped<\/h2>\n<p>Furthermore, Salame\u2019s legal counsel cited his cooperation with the U.S. government for the proposed lenient sentence, explaining that he was the first to alert authorities in The Bahamas when he learned about the FTX fraud. They said their client was remorseful and made efforts to deal with his substance abuse issues.<\/p>\n<p>In addition, the attorneys mentioned that Salame was duped and incurred financial losses as a result of FTX\u2019s collapse.<\/p>\n<p>With FTX founder Sam Bankman-Fried having been <a href=\"https:\/\/cryptopotato.com\/former-ftx-chief-sam-bankman-fried-sentenced-to-25-years-in-prison\/\">sentenced<\/a> to 25 years behind bars, which jail term the court would impose on Salame remains to be seen.<\/p>\n<p>Virka <a href=\"https:\/\/cryptopotato.com\/former-ftx-exec-ryan-salame-requests-18-months-prison-sentence\/\">Entinen FTX:n johtaja Ryan Salame vaatii 18 kuukauden vankeustuomiota<\/a> ilmestyi ensin osoitteessa <a href=\"https:\/\/cryptopotato.com\/\">CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The lawyers of Ryan Salame, a former executive of the bankrupt cryptocurrency exchange FTX, who pleaded guilty to his role in the firm\u2019s collapse, have requested that a court sentence their client to 18 months in prison in an upcoming hearing scheduled for May 28. According to a sentencing memorandum seen by Inner City Press, [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former FTX Exec Ryan Salame Requests 18 Months Prison Sentence - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/fi\/former-ftx-exec-ryan-salame-requests-18-months-prison-sentence\/\" \/>\n<meta property=\"og:locale\" content=\"fi_FI\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former FTX Exec Ryan Salame Requests 18 Months Prison Sentence - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The lawyers of Ryan Salame, a former executive of the bankrupt cryptocurrency exchange FTX, who pleaded guilty to his role in the firm\u2019s collapse, have requested that a court sentence their client to 18 months in prison in an upcoming hearing scheduled for May 28. 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