Sentencing of former FTX exec Ryan Salame moved to May 28

The former FTX co-CEO took a plea deal and was originally set for sentencing on May 1.

Sentencing for former FTX co-CEO Ryan Salame has been rescheduled for May 28, according to a filing in Southern New York District Court. It is unclear why his sentencing was postponed from the original date of May 1.

Salame was one of the four members of the FTX top management to be charged by the United States government along with Sam Bankman-Fried in relation to the cryptocurrency exchanges collapse. Salame was the only one of the four — who also included former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang and former FTX top engineer Nishad Singh — who did not testify against Bankman-Fried.

All of the four executives reportedly made plea deals with U.S. prosecutors. Salame is free on a $1-million bond.

Like the other executives, Salame has pleaded guilty to federal charges relating to the FTX debacle. In addition, he faces charges on campaign finance violations connected with his girlfriend Michelle Bond‘s unsuccessful bid to represent New York’s First District in the House of Representatives. Bond was defeatedin the Republican primary.

Source: Ryan Salame

Both of the charges against Salame could reportedly result in sentences of up to five years in prison. Bankman-Frieds lawyers argued that he should not face campaign contribution violation charges because they were not part of his agreement on extradition from the Bahamas. Those charges were later folded into the conspiracy to commit fraud charges against him.

Bankman-Fried claimed at trial, where he pleaded not guilty, that he did not discuss his political donations with Salame. All four executives charged with Bankman-Fried have pleaded guilty to the charges against them.

Salame‘s role in the criminal activities at FTX remains somewhat ambiguous. He was reportedly not part of Bankman-Fried’s inner circle and was so shocked by the news of the exchange‘s collapse that he became physically sick. However, Bahamian court records later showed that he informed the country’s Securities Commission of irregularities at the exchange in November 2022, leading to an investigation.