Public filings or official announcements from FTX

Former FTX Bahamas Co-CEO Ryan Salame Sentenced to 90 Months in Prison

May 28, 2024, 04:13 PM

Former FTX executive Ryan Salame has been sentenced to seven and a half years (90 months) in prison. Salame, who was a top lieutenant to FTX founder Sam Bankman-Fried and co-CEO of FTX's Bahamian subsidiary, was sentenced by a Manhattan federal judge. This makes him the first of Bankman-Fried's close associates to receive prison time. Salame's sentence exceeds the prosecution's recommendation of 5-7 years. He pleaded guilty in September 2023 to participating in a plan to make illegal political donations, deceive the Federal Election Commission, and run an unlicensed money transfer business. Additionally, Salame was sentenced to three years of supervised release and ordered to pay over $6 million in forfeiture and over $5 million in restitution. Despite his conviction, Salame is allowed to keep his Porsche.