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Former FTX executive Ryan Salame asks court for leniency, sentences him to 18 months in prison

CointimeCointime2024/05/15 06:10
By:Cointime

According to a sentencing memorandum submitted on Tuesday, former FTX executive Ryan Salame pleaded guilty in September of last year to conspiring to make illegal political contributions and conspiring to operate an unlicensed money transmission business. His lawyer requested leniency from the court and for him to serve an 18-month sentence. While working at FTX and Alameda, Salame managed wire deposits and fiat currency exchanges for FTX clients, used Alameda funds to make political contributions, and led charity efforts in the Bahamas.

In the submitted document, his lawyer argued that Salame's role in the closed company was more operational and less central to the fraud. They also mentioned Salame's cooperation with authorities, genuine remorse, efforts to address drug abuse, and significant personal and financial losses caused by the exchange's collapse.

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