Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison for Unlawful Campaign Donations and Money Laundering

New Providence, Bahamas Bahamas
FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion from FTX customers.
He reported possible fraud by Sam Bankman-Fried, founder of FTX, to Bahamian authorities.
Insiders testified against Bankman-Fried during his trial in November 2023.
Ryan Salame, former co-CEO of FTX Digital Markets Ltd., sentenced to 90 months in prison for unlawful campaign donations and money laundering.
Salame did not take the stand during Bankman-Fried's trial and was sentenced to 90 months in prison followed by three years of supervised release, ordered to pay over $11 million.
Salame spent millions on real estate and campaign donations during his tenure at FTX.
Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison for Unlawful Campaign Donations and Money Laundering

In a significant development, Ryan Salame, the former co-CEO of FTX Digital Markets Ltd., has been sentenced to 90 months in prison for making unlawful campaign donations. Salame spent millions on real estate and campaign donations during his tenure at FTX. He went to Bahamian authorities to report that Sam Bankman-Fried, the founder of FTX, may have committed fraud by sending customer money from the crypto exchange to his other firm, Alameda Research.

Salame's actions led to several insiders testifying against Bankman-Fried during his trial in November 2023. These individuals included Alameda's former CEO and Bankman-Fried's ex-girlfriend, Caroline Ellison, FTX co-founder Gary Wang, and FTX's ex-engineering head Nishad Singh.

Despite his cooperation with authorities, Salame did not take the stand during Bankman-Fried's trial. He was sentenced to 90 months in prison on May 28, 2024, followed by three years of supervised release. He has also been ordered to pay more than $6 million in forfeiture and over $5 million in restitution.

Salame's sentence is heavier than the five to seven years that prosecutors had suggested and significantly longer than the 18 months requested by his defense team.

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison earlier this year for stealing $8 billion from FTX customers. A jury found him guilty on seven fraud and conspiracy counts stemming from FTX's collapse, which has been described as one of the biggest financial frauds in US history.

Salame gave more than $24 million to Republican candidates and causes during the 2023 election cycle, making him one of that year's top donors. He pleaded guilty in September 2023 to conspiracy to make unlawful political contributions and conspiracy to operate an unlicensed money-transmitting business.


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Confidence

85%

Doubts
  • Was all of the reported fraud by Sam Bankman-Fried proven beyond a reasonable doubt?
  • Were there any other potential motivations for Salame's actions besides cooperation with authorities?

Sources

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison

CNBC News MacKenzie Sigalos Tuesday, 28 May 2024 16:48
  • Unique Points
    • Ryan Salame, former co-CEO of FTX Digital Markets Ltd., has been sentenced to 90 months, or seven and a half years, in prison.
    • Salame spent millions on real estate and campaign donations during his tenure.
    • Salame went to Bahamian authorities to tell them that Bankman-Fried may have committed fraud by sending customer money from the crypto exchange to his other firm, Alameda Research.
    • Several other insiders, including Alameda’s former CEO and SBF’s ex-girlfriend, Caroline Ellison, FTX co-founder Gary Wang, and FTX’s ex-engineering head Nishad Singh, all gave testimony for the prosecution that ultimately contributed to Bankman-Fried’s guilty verdict in November.
    • Salame did not take the stand during Bankman-Fried’s trial.
  • Accuracy
    • Ryan Salame received a 7.5 year prison sentence.
    • Ryan Salame is one of four top deputies at FTX who have pleaded guilty to crimes.
    • Salame was sentenced for a campaign finance law violation and operating an unlicensed money transmitting business.
    • Judge Lewis A. Kaplan found that Salame's efforts to circumvent campaign donation laws jeopardized political stability in the US.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

95%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Ryan Salame, FTX Executive, Gets Seven and a Half Year Prison Sentence

The Name Of The NZ Prefix. I PWA NZI.P.Was Dropped. David Yaffe-Bellany Tuesday, 28 May 2024 16:07
  • Unique Points
    • Ryan Salame is head of FTX's subsidiary in the Bahamas.
    • Ryan Salame was sentenced for a campaign finance law violation and operating an unlicensed money transmitting business.
  • Accuracy
    • Ryan Salame received a 7.5 year prison sentence.
    • Ryan Salame is set to surrender on Aug. 29, and requested to serve his sentence at the federal prison in Cumberland, Md.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

First of Bankman-Fried’s FTX Lieutenants Ryan Salame Faces Sentencing

Bloomberg News Now Ava Benny-Morrison, Tuesday, 28 May 2024 20:54
  • Unique Points
    • Ryan Salame, former CEO of FTX's Bahamas subsidiary, was sentenced to 7 1/2 years in prison.
    • He is the first of Sam Bankman-Fried’s associates to be sentenced following FTX’s implosion.
  • Accuracy
    • Ryan Salame was sentenced to 7 1/2 years in prison.
    • Salame reached a plea deal with federal prosecutors over his role in the multibillion dollar collapse of FTX.
    • Judge Lewis A. Kaplan found that Salame’s efforts to circumvent campaign donation laws jeopardized political stability in the US.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Former FTX executive Salame sentenced to 7.5 years in US prison

Al Jazeera Media Network Al Jazeera Tuesday, 28 May 2024 20:54
  • Unique Points
    • Ryan Salame, the former co-CEO of FTX's Bahamian subsidiary, has been sentenced to 90 months in prison for making tens of millions of dollars in unlawful campaign donations.
    • Salame pleaded guilty in September to making tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss.
    • Salame gave more than $24m to Republican candidates and causes in the 2022 election cycle, making him one of that year’s top donors.
  • Accuracy
    • Ryan Salame was sentenced to 90 months in prison.
    • Salame pleaded guilty to one count of conspiracy to make unlawful political contributions and one count of conspiracy to operate an unlicensed money-transmitting business.
    • Bankman-Fried was sentenced earlier this year to 25 years in prison for stealing $8bn from FTX customers.
    • Salame gave more than $24m to Republican candidates and causes in the 2022 election cycle.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication