Ex-FTX Executive Ryan Salame Seeks Mercy with Just 18-Month Sentence Request
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Legal representatives for ex-FTX executive Ryan Salame are advocating for an 18-month prison term, emphasizing his cooperation with law enforcement and genuine remorse.
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They contend that Salame did not play a pivotal role in the primary fraud orchestrated by Bankman-Fried’s closest associates.
Ryan Salame, a former executive at FTX who admitted to election fraud charges in September, has his lawyers requesting a lenient 18-month sentence, as detailed in a sentencing memorandum filed on Tuesday.
During his tenure at FTX and Alameda, Salame was responsible for managing wire deposits and fiat currency transactions for FTX clients, participating in political donations through Alameda funds, and spearheading charitable endeavors in the Bahamas.
His attorneys assert in their filings that Salame’s duties at the defunct companies were more related to operational tasks than fraudulent activities. They highlight his cooperation with law enforcement, his sincere remorse, efforts to address personal substance abuse issues, and the extensive personal and financial costs incurred following the collapse of the exchange.
“He was completely unaware that the core group at Alameda and FTX had colluded to deceive and steal from their clients. Ryan did not engage in theft or deceit,” his lawyers stated in one filing. “He was misled…when he finally grasped the extent of the FTX fraud, he was the first to alert authorities in the Bahamas.”
The memorandum indicates that Salame’s disclosures to Bahamian authorities were instrumental in launching their investigation into FTX. Additionally, he provided documents to the U.S. Attorney’s Office without requiring a grand jury subpoena.
Salame’s attorneys also argue that the relentless media scrutiny of FTX and its associated figures guarantees that he will face lifelong repercussions. They claim that the infamy of FTX and his connection to Bankman-Fried will forever hinder his future employment prospects.
Former Alameda-FTX executives Caroline Ellison and Gary Wang have both admitted guilt to various charges and are pursuing plea deals with U.S. authorities to avoid incarceration.
