FBI Raids Home of Former Executive of Crypto Exchange FTX!

Two sources with knowledge of the matter said the FBI conducted a search of the home of former FTX director Ryan Salame.

Salame Was One of the Names Closest to FTX Founder Sam Bankman-Fried

Salame, who runs FTX’s Bahamian branch, said before the firm filed for bankruptcy in November. cryptocurrency He was part of the advisors in the inner circle of Sam Bankman-Fried, the founder of the stock exchange.

Federal prosecutors accuse Bankman-Fried of orchestrating a massive fraud and illegal campaign finance scheme at FTX.

Three of his former top executives pleaded guilty in connection with the investigation and agreed to cooperate against their former bosses.

Salame has come under particular scrutiny for his $24 million campaign donations during last year’s US midterm elections. Federal officials claimed in court filings that most of the $90 million in contributions to political candidates by a handful of former FTX employees, including Salame, were improperly embezzled from customers of the exchange.

A search of Salame’s $4 million home indicates that federal officials have not completed their investigation into the collapse of FTX as it prepares for Bankman-Fried’s hearing in October.

The FBI meeting outside the house told The New York Times. According to a person who sent a photo of their agent, it is not clear what the authorities were looking for during the search, which took place around 14 CEST.

Salame had amassed enormous wealth as the crypto market skyrocketed and FTX reached a valuation of $32 billion. FTX’s bankruptcy lawyers and advisors said in March that Salame received $87 million in bonuses and loans from Alameda.

*Not investment advice.