Ryan Salame, former CEO of FTX, who pleaded guilty to two charges, will be sentenced in a New York courtroom on May 1.
Salame is scheduled to appear before Judge Lewis Kaplan on May 1 to face sentencing related to his role in fraudulent activities at the now-defunct cryptocurrency exchange FTX. In September 2023, the former FTX CEO pleaded guilty to one count of illegal political contributions and one count of conspiracy to operate an unlicensed money transmitting business.
Salame was charged in a similar case with former FTX CEO Sam “SBF” Bankman-Fried, former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and former FTX CTO Nishad Singh. He admitted in court to making $10 million in political contributions and “calling it loans that he never intended to repay.”
The charges also focused on Salame‘s contributions to his then-girlfriend Michelle Bond’s 2022 congressional campaign. Reports indicate that he also acted as a proxy for a company contributing to the campaign, violating US law. The former FTX CEO could face several years in prison after sentencing, but the US Attorney’s Office is said to have proposed probation instead of incarceration.
