The U.S. prosecutors are advocating for a five to seven-year prison sentence for former FTX executive Ryan Salame for his involvement in fraudulent activities. Salame served as the head of the Settlements Team at Alameda and CEO of FTX Digital Markets, aiding Samuel Bankman-Fried in committing fraud. He was convicted of offenses such as unlicensed money transmission, false statements to banks, and unlawful political contributions through Alameda. The Prosecutors believe that a significant prison term is necessary due to the seriousness of the crimes and the need for general deterrence.
In response, Salame’s attorneys are requesting a shorter sentence of no more than 18 months, arguing that he did not play a central role in the fraud and suffered financial losses when FTX collapsed. They believe that a shorter sentence would allow Salame to make positive contributions to society after serving his time. The sentencing memorandum includes a recommended sentence of 120 months’ imprisonment by the Probation Office, taking into account the seriousness of the offenses and the large amounts of money involved in the crimes.
The prosecutors highlighted Salame’s involvement in integrating FTX into the Bahamas and his discussions about retrieving funds from cryptocurrency exchanges in China. They emphasized that his crimes were intended to undermine the integrity of the U.S. campaign finance system and financial system. The prosecution is advocating for a sentence above 18 months to reflect the seriousness of the offenses committed by Salame.
Salame’s attorneys argue that he should not receive a long prison sentence as he was not a central figure in the fraudulent activities and suffered significant personal financial losses due to the collapse of FTX. They believe that a shorter sentence would be more appropriate and allow Salame to rehabilitate and contribute positively to society after serving his time. The sentencing for Salame is scheduled for May 28, where the judge will make a decision based on the arguments presented by both the prosecutors and the defense.
In conclusion, the former FTX executive Ryan Salame is facing a prison sentence of five to seven years for his involvement in fraudulent activities, as advocated by U.S. prosecutors. Salame’s attorneys are requesting a shorter sentence of no more than 18 months, arguing that he did not play a central role in the fraud and has suffered personal financial losses. The sentencing memorandum includes a recommended 120 months’ imprisonment by the Probation Office, emphasizing the seriousness of the offenses committed by Salame. The sentencing is scheduled for May 28, where the judge will decide on the appropriate punishment for Salame’s crimes.
