Former FTX Executive Pleads For an 18-Month Maximum Sentence

• Ryan Salame’s lawyers have asked for a lenient sentence for their client.
• The lawyers begged the court to sentence Salame to not more than 18 months in prison.
• Salame served as the CEO of the Bahamian portion of FTX.

Following a guilty plea from last September, lawyers for former FTX executive Ryan Salame have asked for a lenient sentence for their client. In a recent filing, Salame’s representatives asked the court to sentence the accused to not more than 18 months in prison, noting that a lenient sentence would satisfy the purpose of sentencing while allowing him to continue contributing positively toward society.

In support of their plea, Salame’s lawyers highlighted that their client did not play a central role in FTX’s fraudulent activities. Instead, they argued that he lost most of his fortune with the collapse after the crypto exchange filed for bankruptcy in 2022.

The lawyers highlighted Salame’s contributions to the community as part of their plea bargain. According to them, those who know the accused regard him as “an outstanding member of the community.” The lawyers further noted that people around would testify that Salame is known for “contributing significantly and making a positive impact in the world.”

During his time at FTX, Salame served as the CEO of the Bahamian portion of the company and worked closely with Sam-Bankman-Fried. He pleaded guilty to one count of conspiracy to operate an unlicensed money-transmitting business and one count of conspiracy to make unlawful political contributions and defraud the Federal Election Commission.

Salame is the only one among Bankman-Fried’s four associates who did not have a cooperation agreement during last September’s trial. However, he pleaded guilty like the others but asked the court to consider his consider his alcohol and drug-related issues ahead of sentencing.

The accused could spend up to 10 years in jail based on the magnitude of his offense. Before now, he had agreed to forfeit $1.5 billion in addition to making a restitution of $5.6 million to FTX debtors. Salame has also agreed to pay $6 million to the U.S. government and forfeit property in the Berkshires and a 2021 Porsche 911.