Ex-FTX Co-CEO Ryan Salame Pleads Guilty to Fraud Charges, Agrees to Forfeit Assets

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This article has been republished with permission from Binance News.

According to Cointelegraph: Ryan Salame, former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission (FEC) and conspiracy to run an unlicensed money-transmitting business. As the fourth prominent figure associated with the now-defunct crypto exchange FTX facing criminal charges, Salame may serve years in prison for campaign finance violations and operating an unlicensed business.

The charges involved contributions for the 2022 congressional campaign of Salame’s girlfriend, Michelle Bond, as well as corporate donations breaching US law. Salame reportedly agreed to pay around $6 million in penalties, over $5 million to FTX debtors, and surrender two Massachusetts properties and a Porsche. Salame currently remains free on a $1 million bond pending his sentencing hearing, expected in March 2024. Other related cases in the FTX fraud include former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and FTX’s ex-engineering director Nishad Singh, who have all pleaded guilty, while former FTX CEO Sam Bankman-Fried pleaded not guilty.
 



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