Ryan Salame, Sandisfield resident and ex-FTX co-CEO, has been sentenced to seven and a half years in prison.
Back in September, in the United States Southern District Court of New York, Ryan Salame entered two guilty pleas for the charges of Conspiracy to Make Unlawful Political Contributions and Defraud the Federal Election Commission (FEC) and Conspiracy to Operate an Unlicensed Money Transmitting Business.
Salame, a Sandisfield resident, was co-chief executive officer of FTX, a cryptocurrency exchange that was founded in 2019. In January 2022, the company had been valued at $32 billion; however, the company has been in Chapter 11 bankruptcy proceedings since November 2022. FTX founder Sam Bankman-Fried has been under federal investigation for fraud over the company’s collapse, while Salame has been under investigation for campaign finance violations.
Back in March, Bankman-Fried was sentenced to 25 years in prison.
