NEW YORK, Monday, June 3, 2024 – Ryan Salame, a former high-ranking executive at the collapsed cryptocurrency exchange FTX, was sentenced to 90 months in prison on Tuesday, May 28, 2024.1
Salame pleaded guilty in September 2023 to conspiracy charges related to illegal campaign contributions and operating an unlicensed money-transmitting business. He served as co-CEO of FTX’s Bahamian affiliate and was considered a close associate of FTX founder Sam Bankman-Fried.
Prosecutors accused Salame of using FTX customer funds to make tens of millions of dollars in unlawful political donations to support causes favored by Bankman-Fried. Salame’s lawyers argued he was not directly involved in the broader FTX fraud.
The 90-month sentence, equivalent to 7.5 years, is the first major punishment handed down in the FTX saga. Bankman-Fried is currently appealing his 25-year prison sentence for fraud and conspiracy charges related to the FTX collapse.
In addition to prison time, Salame was ordered to pay over $6 million in forfeiture and more than $5 million in restitution.
