Former FTX Co-CEO Ryan Salame Considering Guilty Plea Talks – Here's the Latest
Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly discussing a potential guilty plea with U.S. authorities.
Salame, a prominent figure at FTX, who emerged as a central figure in what U.S. prosecutors are now labeling as "one of the biggest financial frauds in American history." Before Sam Bankman-Fried, the disgraced founder of FTX, filed for Chapter 11 bankruptcy, Salame had reportedly alerted regulators to suspected wrongdoing within the cryptocurrency empire that was once valued at $32 billion.
As outlined in a Bloomberg report on August 8, Salame, a well-known Republican donor responsible for managing FTX's political contributions, is reportedly considering entering a plea in September. This plea would be related to various charges, including violations of campaign finance laws.
Salame had been investigated for suspected violations of U.S. campaign finance laws, particularly concerning his girlfriend Michelle Bond's congressional campaign. Allegedly, both individuals exceeded the established federal limits on contributions.
However, Salame has not previously been charged with FTX, and details of a potential plea deal have not been finalized, the report added. Salame could potentially become a witness in either of Bankman-Fried's trials.
These legal proceedings consist of a trial starting in October 2023 that involves seven counts and another one beginning in March 2024 that encompasses five counts.
Currently, Bankman-Fried is maintaining his plea of not guilty in response to the 12 charges he is facing. While he asserts his innocence, key figures in the FTX case have taken a different route. In December 2022, former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang entered guilty pleas
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