The sentencing for former FTX co-CEO Ryan Salame has been rescheduled for May 28, as stated in a filing in the Southern New York District Court. The reason for the postponement from the original date of May 1 is unclear at this time.
Salame, along with Sam Bankman-Fried, was one of the four members of FTX’s top management who were charged by the United States government in connection with the collapse of the cryptocurrency exchange. However, Salame is the only one among the four, which also includes former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang, and former FTX top engineer Nishad Singh, who did not testify against Bankman-Fried.
All four executives reportedly reached plea deals with U.S. prosecutors, and Salame is currently out on a $1-million bond. Similar to the other executives, Salame has pleaded guilty to federal charges related to the FTX debacle. Additionally, he is facing charges related to campaign finance violations associated with his girlfriend Michelle Bond’s unsuccessful campaign for New York’s First District in the House of Representatives. Bond was defeated in the Republican primary.
Both charges against Salame carry a maximum sentence of up to five years in prison. Bankman-Fried’s legal team argued against the campaign contribution violation charges, stating that they were not part of his extradition agreement from the Bahamas. However, those charges were later included in the conspiracy to commit fraud charges against him.
During the trial, Bankman-Fried, who pleaded not guilty, claimed that he did not discuss his political donations with Salame. All four executives charged alongside Bankman-Fried have pleaded guilty to their respective charges.
Salame’s role in the criminal activities at FTX remains somewhat unclear. He was reportedly not part of Bankman-Fried’s inner circle and was greatly shocked by the news of the exchange’s collapse to the point of becoming physically ill. However, court records from the Bahamas later revealed that he informed the country’s Securities Commission about irregularities at the exchange in November 2022, leading to an investigation.