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According to the U.S. Attorney’s Office for the Southern District of New York, Ryan Salame, a former executive of FTX, was sentenced to 90 months, or 7.5 years, in prison.
U.S. Attorney Damian Williams stated, “Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law.” Williams emphasized that Salame’s actions “undermined public trust in American elections and the integrity of the financial system.” The severe sentence highlights the serious consequences of such federal crimes.
Prior to this, Salame had already acknowledged his guilt to accusations of conspiring to make illegal political donations, stealing from the Federal Election Commission, and operating an unregistered money-transmission enterprise. With his cooperation with U.S. authorities and the lifetime stigma he bears from FTX’s failure, his defense team had hoped for an 18-month sentence.
Salame will serve a three-year supervised release period after his jail sentence. Along with paying more than $5 million in reparations, he has also been forced to forfeit more than $6 million.
Additionally, in an attempt to avoid going to jail, former Alameda-FTX executives Caroline Ellison and Gary Wang entered plea agreements and admitted guilt.