Former FTX executive Ryan Salame sentenced to 90 months in prison for illegal campaign donations
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Ryan Salame, former co-CEO of FTX's Bahamian firm, has been sentenced to 90 months in prison by a US federal court for making tens of millions of dollars in illegal campaign contributions. Salame pleaded guilty in September to supporting groups backed by his former boss, Sam Bankman-Fried, the operator of a now-defunct cryptocurrency exchange. The sentence exceeds the prosecutors' recommendation of five to seven years. Salame must also serve three years of supervised release and pay nearly $6 million in forfeiture and over $5 million in restitution. Salame, Bankman-Fried, and former FTX engineering chief Nishad Singh are accused of using FTX customer funds to support politicians who favor crypto-friendly laws. Salame's counsel argued that he was deceived into believing the company was legitimate and financially healthy. Salame made significant political contributions totaling over $24 million during the 2022 election season. He pleaded guilty to conspiracy to make illegal political contributions and conspiracy to run an unregistered money-transmitting company. Salame's imprisonment follows Bankman-Fried's 25-year sentence for stealing $8 billion from FTX consumers.

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https://www.wionews.com/business-economy/former-ftx-executive-ryan-salame-sentenced-to-90-months-in-prison-for-illegal-campaign-donations-726532