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News

Former FTX Exec Ryan Salame Seeks Delay in Prison Surrender Due to Surgery

July 27, 2024 - Around 2 mins mins to read

Key Points:

  • Former FTX exec Ryan Salame requests to push back his prison start date to October 13 for surgery on injuries from a dog attack.
  • Salame was sentenced to 7.5 years for campaign finance violations and running an unlicensed money transmitter.
According to Bloomberg, former FTX exec Ryan Salame has requested that his prison surrender date be delayed to October 13 so that he can undergo surgery for the injuries he suffered during a dog attack.
Former FTX Exec Ryan Salame Seeks Delay in Prison Surrender Due to Surgery

Read more: Former FTX CEO Ryan Salame Is In Negotiations With US Prosecutors To Plead Guilty

Former FTX Exec Ryan Salame Requests Prison Delay for Surgery

Former FTX exec Ryan Salame is supposed to begin his seven-and-a-half-year prison term on August 29, but he was reportedly attacked by his friend’s German Shepherd during the ending days of June. The attack caused severe facial injuries that required surgery.

Friday, a letter was sent to federal court by Salame’s legal team asking Judge Lewis A. Kaplan to push back the surrender date so that he could have a previously scheduled, medically necessary procedure. Along with his letter was an attending physician statement, which affirmed the seriousness of Salame’s injuries but did not go into details.

Salame, a former CEO of FTX Digital Markets in The Bahamas, was sentenced in May after he pleaded guilty to campaign finance violations and the operation of an unregistered money transmitter. The charges are tied to the collapse of FTX and its sister hedge fund, Alameda Research, that imploded late last year. He must forfeit more than $6 million and pay more than $5 million in restitution.

Sam Bankman-Fried’s 25-Year Sentence and Donation Review Update

The case joins a broader wave of legal consequences to emerge from the debacle of FTX. Co-founder and former chief executive of FTX Sam Bankman-Fried has been sentenced to 25 years in prison for the theft of about $10 billion from investors, customers, and lenders. His sentencing came after months of legal wrangling, during which final arguments from the government recommended a 50-year sentence while Bankman-Fried’s defence argued for six years.

Judge Kaplan also cleared an extension to review the forfeitability of funds related to Bankman-Fried’s donations to political action committees, which is now due by September 13.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Former FTX Exec Ryan Salame

FTX

Ryan Salame

Sam Bankman-Fried

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.