{"id":2254466,"date":"2024-05-28T17:10:02","date_gmt":"2024-05-28T21:10:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-ftx-executive-ryan-salame-sentenced-to-more-than-seven-years\/"},"modified":"2024-05-28T17:12:24","modified_gmt":"2024-05-28T21:12:24","slug":"former-ftx-executive-ryan-salame-sentenced-to-more-than-seven-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-ftx-executive-ryan-salame-sentenced-to-more-than-seven-years\/","title":{"rendered":"Ex-FTX Executive Ryan Salame Receives Over 7-Year Sentence"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fformer-ftx-executive-ryan-salame-sentenced-to-more-than-seven-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2254466&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Ryan\u200b Salame, a key figure at FTX, got a \u200d7.5-year prison term for involvement in a fraud case linked to Sam Bankman-Fried.\u2063 He was the first among Bankman-Fried&#8217;s advisors to face such a \u2062sentence. Salame, \u200daged 30, previously held a prominent role\u200d at FTX. Despite not being directly involved in a $10 billion swindle, his actions regarding \u2063campaign \u200dfinance laws led to a severe outcome\u2063 in court. Ryan Salame, a prominent figure at FTX, received a 7.5-year prison sentence for his role in a fraud case associated with Sam Bankman-Fried. He stands as the \u2062inaugural individual among Bankman-Fried&#8217;s\u2062 advisors to encounter such legal repercussions. Despite his\u200d prior significant position\u200c at FTX, Salame, aged 30, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-what-the-2024-gop-candidates-said-about-trumps-arrest-in-miami\/\" title=\"2024 GOP Candidates' Reactions to Trump's Miami Arrest\">faced severe consequences<\/a>\u200b in court \u200bdue to his\u2062 involvement \u2064with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/march-for-our-lives-issue-biden-1-billion-list-of-gun-control-policy-demands\/\" title=\"March For Our Lives Issue Biden  Billion List Of Gun Control Policy Demands\">campaign finance laws<\/a>, not directly linked\u200c to a \u200d$10 billion scam.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p><a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/former-ftx-executive-ryan-salame-sentenced-90-months-prison\" target=\"_blank\" rel=\"noopener\" title=\"cryptocurrency\">Ryan Salame<\/a>, one of the top executives at the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\/\" target=\"_blank\" rel=\"noopener\" title=\"cryptocurrency\">cryptocurrency<\/a> exchange <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/ftx\/\" target=\"_blank\" rel=\"noopener\" title=\"FTX\">FTX<\/a>, was sentenced Tuesday to seven and a half years in prison for his role in a sprawling fraud\u00a0scheme involving <a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/2963200\/ftx-founder-sam-bankman-fried-appeals-25-year-fraud-sentence\/\" target=\"_blank\" rel=\"noopener\" title=\"Sam Bankman-Fried\">Sam Bankman-Fried<\/a>. <\/p>\n<p>Salame is the first of Bankman-Fried\u2019s close circle of advisers who received a lengthy prison term. <\/p>\n<figure><figcaption>Ryan Salame, 30, who was a high-ranking executive at FTX for most of the exchange\u2019s existence, leaves Federal Court, in New York, Tuesday, May 28, 2024. (AP Photo\/Lawrence Neumeister)<\/figcaption><\/figure>\n<p>Salame, 30, showed up to court wearing a blue suit and socks with a bitcoin logo. He pleaded guilty last year to a campaign finance law violation\u00a0and a charge of operating an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-charges-against-disgraced-ftx-ceo-sam-bankman-fried-revealed\/\" title=\"New Charges Against Disgraced FTX CEO Sam Bankman-Fried Revealed\">unlicensed money transmitting business<\/a>. <\/p>\n<p>While he was not accused of helping Bankman-Fried swindle $10 billion from customers, investors, and lenders, Salame\u2019s efforts to circumvent campaign donation laws put \u201cthe state of our\u00a0political life in this country is in jeopardy,\u201d Judge Lewis Kaplan said before handing down a lengthier prison sentence than prosecutors\u00a0had sought. <\/p>\n<p>\u201cEfforts like that undertaken by Mr. Salame and Bankman-Fried only make matters worse,\u201d Kaplan added.  <\/p>\n<p>Prosecutors pushed for five to seven years, while Salame\u2019s\u00a0defense team asked for 18 months. <\/p>\n<p>\u201cHe knew precisely what he was doing, he knew why it was being done,\u201d Kaplan said. \u201cHe knew it was illegal, and the whole idea was to hide it from the world. Astonishing.\u201d<\/p>\n<p>Salame was a key figure at FTX, overseeing\u00a0its subsidiary in the Bahamas, where the company was headquartered. <\/p>\n<p>As FTX grew into a $32 billion business, Salame lived the good life. He flew in private jets, enjoyed expensive cars, and bought\u00a0restaurants in the Berkshires in western Massachusetts. <\/p>\n<p>Salame made $24 million in political donations during the 2022 midterm election cycle, drawing on loans from Alameda Research, Bankman-Fried\u2019s affiliated hedge fund, and acting as a straw donor for Bankman-Fried. In a 2021 text message, Salame described Bankman-Fried\u2019s push to donate to both political parties as a bid to influence crypto policy.<\/p>\n<p>Salame told Kaplan that he thought he was legitimately helping FTX customers but said he took responsibility for his actions. <\/p>\n<p>\u201cThere are no excuses for violating the law and for that I apologize to the court and the U.S.,\u201d he said.<\/p>\n<p>Salame was one of four close confidants of Bankman-Fried who were arrested alongside the wunderkind. Unlike\u00a0former FTX co-founder\u00a0Gary Wang, chief engineer\u00a0Nishad Singh,\u00a0and Alameda Research CEO\u00a0Caroline Ellison, Salame did not testify against Bankman-Fried with the hope of receiving a lighter sentence. <\/p>\n<p>Wang, Singh, and Ellison may face sentencing later this year, though no date has been set. <\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\" target=\"_blank\" rel=\"noopener\" title=\"CLICK HERE FOR MORE FROM THE WASHINGTON EXAMINER \">CLICK HERE FOR MORE FROM THE WASHINGTON EXAMINER <\/a><\/strong><\/p>\n<p>Bankman-Fried, 32, was sentenced to 25 years in prison in March. <\/p>\n<p>Last November, a New York jury found him guilty of two counts of fraud and five\u00a0counts of conspiracy\u00a0that led\u00a0to the seismic collapse of his cryptocurrency exchange and hedge fund. <\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ryan Salame, a former top executive at FTX, has been sentenced to seven and a half years in prison. This sentence is part of a major fraud scheme linked to Sam Bankman-Fried. Salame, aged 30, is the first of Bankman-Fried&#8217;s advisors to face such a long prison term<\/p>\n","protected":false},"author":2646,"featured_media":2254467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP24149637107071.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2254466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP24149637107071.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2254466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2646"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2254466"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2254466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2254467"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2254466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2254466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2254466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}