Ryan Salame’s Plea: 18-Month Sentence Amid FTX Collapse

Salame’s attorneys are advocating for an 18-month prison sentence for their client, a former executive of the bankrupt cryptocurrency exchange FTX, ahead of his upcoming court hearing on May 28.

Salame’s Role and Charges: Operational Duties versus Allegations of Fraud

While Salame worked at FTX and its sister trading firm Alameda Research, he managed various operational tasks, including customer fiat conversions, political contributions, and charitable initiatives. Despite pleading guilty to criminal charges related to FTX’s collapse, Salame’s attorneys argue that his role was primarily operational and not directly linked to fraud.

Legal Battle Unfolds: Defense Claims Lack of Involvement in FTX Fraud

In a sentencing memorandum, Salame’s legal team asserts that their client was unaware of any fraudulent activities orchestrated by the core leaders of FTX and Alameda. They emphasize Salame’s cooperation with authorities and his efforts to address substance abuse issues. Additionally, they argue that Salame suffered financial losses due to FTX’s collapse and was not involved in deceitful practices.

Also Read: FTX’s Compensation Proposal: Addressing the Fallout of 2022 Collapse