{"id":21067,"date":"2024-05-22T16:00:42","date_gmt":"2024-05-22T13:00:42","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21067"},"modified":"2024-05-22T16:20:05","modified_gmt":"2024-05-22T13:20:05","slug":"u-s-prosecutors-recommend-former-ftx-executive-ryan-salame-receive-five-to-seven-years-in-prison","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/u-s-prosecutors-recommend-former-ftx-executive-ryan-salame-receive-five-to-seven-years-in-prison\/","title":{"rendered":"U.S. Prosecutors Recommend Former FTX Executive Ryan Salame Receive Five to Seven Years in Prison"},"content":{"rendered":"

Ryan Salame’s sentence will be determined on May 28. Salame admitted to the charges last September. U.S. prosecutors are recommending a five- to seven-year prison sentence for former FTX<\/a> executive Ryan Salame, who pleaded guilty last September.<\/p>\n

Salame’s lawyers requested the court to impose a maximum prison sentence of 18 months. But prosecutors said a significant prison sentence was necessary, well beyond the 18-month sentence requested by Salame.<\/p>\n

Prosecutors stated that Salame’s claim that his crimes were aimed only at helping FTX<\/a> and the cryptocurrency industry is not a mitigating factor and is contradicted by the evidence. “It contradicts the evidence that he benefited personally in many ways,” they said.<\/p>\n

\u201cOnly a substantial prison sentence can appropriately reflect the nature and seriousness of his actions and provide sufficient deterrence,\u201d prosecutors added.<\/p>\n

However, Salame’s lawyers argued that their client did not play a central role in the fraudulent activities and that he lost much of his personal wealth with the collapse of FTX. Former FTX CEO Sam Bankman-Fried was convicted of defrauding customers and sentenced to nearly 25 years in prison.<\/p>\n

Salame’s sentence will be determined in a New York court on May 28. From 2019 to 2022, Salame served as a senior executive at Alameda Research and then FTX.com.<\/p>\n

Prosecutors said Salame committed serious crimes to promote FTX’s growth and polish Bankman-Fried’s image.<\/p>\n

\u201cCampaign finance crimes are one of the largest in American history, with more than $1 billion exchanged in the unlicensed money transfer business without proper oversight,\u201d prosecutors also said.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Ryan Salame’s sentence will be determined on May 28. Salame admitted to the charges last September. U.S. prosecutors are recommending a five- to seven-year prison sentence for former FTX executive Ryan Salame, who pleaded guilty last September. Salame’s lawyers requested the court to impose a maximum prison sentence of 18 months. But prosecutors said a<\/p>\n","protected":false},"author":6,"featured_media":10288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[496,6279,2162],"class_list":["post-21067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-ftx-case","tag-ftx-exchange"],"yoast_head":"\nU.S. Prosecutors Recommend Former FTX Executive Ryan Salame Receive Five to Seven Years in Prison - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Prosecutors in the FTX case recommended punishment for the former FTX executive. 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