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Following His Guilty Plea, A Former FTX Digital Markets Executive Will Forfeit His Real Estate, Automobile, And $11 Million

Ryan Salame, the former co-CEO of FTX Digital Markets, pleaded guilty to charges of deceiving the US Federal Election Commission (FEC) and conspiring to operate an illicit money-transmitting corporation.

Ryan Salame is likely to be released on a $1 million bail until his sentence hearing in March 2024

In a recently published article from Cointelegraph, according to a statement issued by the U.S. Salame pled guilty before a judge in the United States, according to the Justice Department. District Court for the Southern District of New York, making him the fourth significant figure associated with the bankrupt crypto exchange FTX to face criminal charges. The former co-CEO faces years in imprisonment for campaign finance breaches, as well as additional time for operating an unlicensed money-transfer company.

The campaign finance allegations were allegedly tied to payments to Salame’s girlfriend, Michelle Bond’s, congressional candidacy in 2022. According to FEC records, the former FTX executive made two $2,900 donations to Bond’s primary campaign in Massachusetts, as well as two $2,900 donations to Bond’s general election campaign.

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Former FTX executive pled guilty to the allegations

In a recently published article from Block Chair, Following the criminal trial of former FTX CEO Sam Bankman-Fried (SBF), which is set to begin on October 3, Assistant U.S. Attorney Samuel Raymond allegedly stated that he will submit a proposal to probation. Salame would allegedly pay the US government almost $6 million in fines, more than $5 million to FTX debtors, and relinquish two residences in Massachusetts as well as a Porsche in his name.

Candidacy finance crimes were allegedly tied to payments to Salame’s girlfriend, Michelle Bond’s, congressional candidacy in 2022. According to FEC records, the former FTX CEO donated $2,900 to Bond’s Massachusetts primary campaign and $2,900 to Bond’s general election campaign. He also allegedly made political contributions on behalf of a company, which is illegal under US law.

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