Ryan Salame’s legal team claimed he was “duped” into participating in the scheme between FTX and Alameda Research, and an 18-month sentence was appropriate.
The former FTX Digital Markets co-CEO pleaded guilty to two felonies and was one of the only figures connected with the defunct crypto exchange who didn’t testify at SBF’s trial.
Lawyers representing Ryan Salame have requested the former co-CEO of FTX Digital Markets be sentenced to no more than 18 months in prison. In a May 14 filing with the United States District Court for the Southern District of New York, Salame’s legal team argued that in addition to the “substantial restitution and forfeiture obligations” offered by the former FTX executive, a sentence of no more than 18 months in prison was “appropriate.
According to Salame’s lawyers, an 18-month sentence was appropriate for the former FTX executive as he occupied the “lowest rung of the conspiracies to which he pleaded guilty” and was unlikely to commit similar crimes. Unlike in Bankman-Fried’s case, which seemingly served as a deterrent to individuals in the crypto space, Salame has “truly accepted responsibility” for his actions.
Following his guilty plea in 2023, Salame has remained free on a $1 million bond. As part of his deal with prosecutors, he will have to pay roughly $6 million in penalties to the U.S. government and $6 million to FTX debtors and surrender two properties and a business. His lawyers said this would leave him with “no remaining assets.”Bitcoin price taps $64.
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