BTC

$98794.466

0.65%

ETH

$3472.255

-0.18%

XRP

$2.278

-1.48%

BNB

$703.021

0.71%

News

Former FTX Exec Ryan Salame Fails to Save His Partner

September 6, 2024 - Around 3 mins mins to read

Key Points:

  • U.S. prosecutors reject claims that they breached former FTX exec Ryan Salame’s plea agreement or made promises about charges against his partner, Michelle Bond.
  • New filings reveal the former FTX exec’s alleged involvement in bribery and misuse of personal information.
In a recent court filing, U.S. prosecutors strongly denied violating a plea agreement with former FTX CEO Ryan Salame.
Former FTX Exec Ryan Salame Fails to Save His Partner

Read more: Former FTX Exec Ryan Salame Has Now Dropped His Guilt Retraction

Prosecutors Deny Breach of Plea Agreement with Ryan Salame

The Southern District of New York filing on September 5 was in response to Salame’s move to withdraw his guilty plea to a felony charge of campaign finance violations. The former FTX exec withdrew his motion on August 29, but a hearing in the case has been set for September 12.

The move comes amid allegations of government misconduct in threatening to prosecute his partner, Michelle Bond, and then seeking to dismiss any charges against her or overturn her conviction.

Former FTX exec Ryan Salame pleaded guilty to conspiracy to make illegal political contributions and operating an unlicensed money-transmitting business. He was sentenced to seven and a half years in prison and sought a delay in sentencing until October 13 due to a medical emergency.

Bond, a Republican candidate for a seat in the US House of Representatives in New York in 2022, faces charges related to funding her campaign with allegedly illegal funds. Salame argued that prosecutors used the plea negotiations as leverage against Bond by maintaining that he agreed to plead guilty based on assurances that the government would drop its investigation of her.

Prosecutors made clear that Salame’s plea agreement contained no promises related to the case against Bond and that he was trying to escape his sentence based on false statements.

Upcoming Hearing and Delayed Sentencing for Ryan Salame

The filing also contains new allegations against Salame, alleging involvement in a bribery scheme to unlock funds linked to Alameda Research. Notes from a video conference in April 2023 suggested that Salame may have used accounts opened under false identities and bribed Thai prostitutes. The revelations put Salame in the crosshairs of his alleged attempt to bribe Chinese officials to unlock large sums of money.

Salame, who pleaded guilty to conspiracy in September 2023, is scheduled to report on October 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

FTX

Michelle Bond

Ryan Salame

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.