Former FTX executive Ryan Salame was originally set to serve seven and a half years in prison, but updated records from the U.S. Bureau of Prisons (BOP) show that his sentence has been reduced by one year. An early release is expected in March 2031.
Release date moved up from 2032 to 2031
According to BOP records, Salame's sentence has been reduced from the original seven and a half years to six and a half years, and his latest release date is set for June 2031. Although foreign media have inquired from the federal prison in Cumberland, Maryland, where he is currently serving his sentence, no response has been received so far, and the reason for the shortened sentence is still unknown.
In September 2023, Salame admitted to charges related to the illegal diversion of FTX user funds as a source of political donations, committing fraud against the Federal Election Commission, and operating an unlicensed money transfer business, among other charges. He was sentenced to seven and a half years in prison by a federal court on May 28, 2024, with three years of supervised release following his prison term.
Ryan Salame's BOP sentencing record shows a firm stance from the court regarding heavy sentencing from defense to conviction.
Salame's lawyer had requested the court not to impose a sentence exceeding 18 months in the sentencing memorandum dated May 14, 2024, arguing that Salame had already suffered significant punishment due to asset forfeiture, was not a core member of FTX, and had no knowledge of SBF's fraudulent activities.
The U.S. prosecutors initially suggested a sentence of 5 to 7 years, but Federal Judge Lewis A. Kaplan deemed the nature of the case too serious and consequently sentenced Salame to a total of 7 and a half years.
Lawyer's appeal failed, the request to withdraw the guilty plea was denied.
On August 21, 2024, Salame requested the court to withdraw his guilty plea agreement and accused the prosecution of threatening his partner, Michelle Bond, during the plea negotiation process. Salame stated that he pleaded guilty because the prosecutors promised to stop the investigation into Bond. However, the prosecution claimed that they never promised to stop the investigation into Bond and stated that Salame's lawyer was already aware of this matter.
After failing to withdraw his guilty plea, Salame attempted again to delay his sentencing but was not granted approval, ultimately entering the federal prison in Cumberland, Maryland on October 11, 2024. He also stated that he was 'not worried' about going to prison, faced life with ease before incarceration, and was quite optimistic about prison life.
(Former FTX executive accuses U.S. prosecutors: Please do not involve my ex-girlfriend in the investigation, both sides have conflicting statements.)
This article reports that FTX's former executive Salame had his sentence reduced by one year, with a release date moved up to 2031. It first appeared in Chain News ABMedia.