Top FTX Executive Sentenced to Seven and a Half Years in Prison
Summary
Ryan Salame of the crypto firm FTX leaving federal court in Manhattan in September, after pleading guilty to a campaign finance law violation and a charge of operating an unlicensed money transmitting business. Mr. Salame, 30, a trusted lieutenant of Mr. Bankman-Fried, the exchange’s founder, pleaded guilty last year to a campaign finance law violation and a charge of operating an unlicensed money transmitting business. Mr. Bankman-Fried was charged with stealing $8 billion from FTX’s customers and using the money to finance political contributions, venture investments and luxury real estate purchases. Three top FTX executives — Gary Wang, Nishad Singh and Caroline Ellison — pleaded guilty to financial crimes and agreed to cooperate with the government. In September, Mr. Salame also pleaded guilty, admitting that he had acted as an illegal “straw donor” who made political contributions at the direction of Mr. Bankman-Fried to evade federal disclosure requirements.