Ex-FTX Exec Ryan Salame Fights for Reduced Jail Sentenced in Fraud Case
Following the legal troubles of FTX founder Sam Bankman Fried, all eyes are now on Ryan Salame, the former executive, as he stands on the brink of sentencing. Salame, who once led FTX Digital Markets, a now-defunct arm of FTX Ltd, faces a possible 18-month prison term over alleged fraudulent activities connected to FTX in the Bahamas.
Despite the looming sentencing, Salame’s legal team is fighting hard, arguing for leniency by stressing his purported limited involvement in the major fraud case.
Allegations Against Salame
Once a key figure within FTX and its sibling company, Alameda Research, Salame is accused of managing wire deposits and currency conversions, supposedly central to the FTX fraud scandal.
While officially heading FTX Digital Markets, Salame allegedly directed political contributions using Alameda’s funds and led charitable initiatives in the Bahamas. However, his defense claims that his role was minor in the core fraudulent activities that rocked FTX.
