Ryan Salame, former co-chief executive at FTX Digital Markets, announced his new role as an inmate at the Federal Correctional Institution at Cumberland. His LinkedIn update, showcasing new skills like “cleaning and whittling,” drew witty remarks from online users. Salame recently requested a delay in his prison surrender, originally set for October 11, due to ongoing medical treatment for injuries sustained in June 2024. If his request is denied, he will begin his 7.5-year prison sentence this Friday. In May 2024, a court sentenced Salame to 90 months in prison, imposed an $11 million restitution, and three years of supervised release for his involvement in FTX’s fraudulent activities.
Salame initially denied deals with prosecutors but later admitted their agreement to drop a criminal investigation into his partner, Michelle Bond, in exchange for his cooperation. His unexpected 7.5-year prison sentence came as prosecutors recommended 5-7 years, while his defense sought only 18 months. In the United States, prison inmates typically do not have internet access, but Salame experienced an unusual incident when he suffered a dog bite resulting in a facial injury. This led to a delay in his original prison reporting date of August 29 to this month to allow for necessary medical treatment and surgery following the attack. Notably, Sam Bankman-Fried, another individual involved in the FTX fraud, is currently serving a 25-year sentence at New York’s Metropolitan Detention Center.
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Ryan Salame’s transition from the co-chief executive at FTX Digital Markets to an inmate at the Federal Correctional Institution at Cumberland has sparked online conversations and reactions. His LinkedIn update humorously highlighting new skills such as “cleaning and whittling” has garnered witty remarks from users. Salame recently requested a delay in his prison surrender, originally scheduled for October 11, citing ongoing medical treatment for injuries sustained in June 2024. In May 2024, a court sentenced Salame to 90 months in prison, imposed an $11 million restitution, and three years of supervised release for his involvement in fraudulent activities at FTX.
Despite initially denying deals with prosecutors, Salame later admitted to their agreement to drop a criminal investigation into his partner, Michelle Bond, in exchange for his cooperation. His sentencing to 7.5 years in prison came as a surprise, as prosecutors recommended 5-7 years while his defense sought only 18 months. In the US, prison inmates typically lack internet access for safety and regulatory reasons, but Salame faced an unusual setback when he suffered a dog bite resulting in a facial injury. This prompted a delay in his prison reporting date from August to this month for necessary medical treatment and surgery following the attack.
Cryptonews, with its extensive experience in crypto coverage and a team of seasoned journalists and analysts, provides trustworthy insights into daily developments and regulatory changes in the cryptocurrency space. Their commitment to factual accuracy and impartial reporting on established cryptocurrencies and emerging projects makes them a credible source in the digital asset industry. As a prominent presence in the industry for over a decade, Cryptonews delivers authoritative content that helps readers navigate the complexities of the ever-evolving crypto landscape with confidence and reliability.
