According to the statement made today by Damian Williams, United States Attorney for the Southern District of New York, former FTX executive Ryan Salame was sentenced to 90 months (7.5 years) in prison.
Salame was previously convicted of making illegal political contributions, defrauding the Federal Election Commission and conspiring to run an unlicensed money transmission business. The sentence was imposed by U.S. District Judge Lewis A. Kaplan.
Williams said in his statement:
“Salame admitted that he advanced the interests of FTX, Alameda Research, and their collaborators through an illegal political influence campaign and an unlicensed money-transmission business. This helped FTX grow faster and larger by operating outside the law. Salame’s involvement in these two serious federal crimes shook the public’s confidence in American elections and the integrity of the financial system. “Today’s sentence underlines that such crimes have significant consequences.”
The prison sentence was more than prosecutors requested. The government had argued that Salame, who pleaded guilty to violating campaign finance laws and operating an unlicensed money transmitter, deserved a prison sentence of five to seven years.
Salame’s lawyers, Salame cryptocurrency He argued that he was as shocked as everyone else, trying to distance himself from years of fraud on the stock market. “He, like everyone else, was deceived into believing the companies were legitimate, not insolvent, and wildly profitable,” his lawyers wrote in a memo submitted to the court before sentencing.
*This is not investment advice.
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