- FTX’s Ryan Salame is in talks with prosecutors.
- The former top executive is accused of violating campaign finance law.
- Salame could plead guilty in September, Bloomberg reports.
FX’s former chief executive Ryan Salame is in talks with federal prosecutors to plead guilty to charges related to financial fraud. This was reported by Bloomberg, which cited sources familiar with the details of the case.
According to them, Ryan Salame may plead guilty in September to violating campaign finance law. Supposedly, he may have exceeded federal contribution limits.
The top executive previously headed a subsidiary in the Bahamas and was an active political donor. While working at FTX, he donated $24 million to support Republican candidates. According to the records provided, one of the recipients of the donations was an acquaintance of Salameh’s, Michelle Bond, who is running for Congress in 2022.
It is still unclear whether the former top executive will testify against FTX founder and CEO Sam Bankman-Fried. Other officials, including Caroline Ellison, Nishad Singh, Gary Wang, have pleaded guilty in the FTX case. It is specified that they will be key witnesses in the government’s case against Bankman-Fried.
Two days before FTX’s bankruptcy, Ryan Salame told the Securities and Exchange Commission (SEC) of financial problems. In April 2023, FBI agents searched Ryan Salama’s home. In early August, FTX representatives and affiliated lenders unveiled a plan to restart the exchange and compensate investors affected by the bankruptcy.
At the beginning of August, FTX representatives and affiliated lenders unveiled a plan to restart the exchange and compensate investors affected by the bankruptcy.