The sentencing for former FTX co-CEO, Ryan Salame, has been rescheduled to May 28, as stated in a filing at the Southern New York District Court. The reason for the postponement from the original date of May 1 remains unclear.
Salame, along with Sam Bankman-Fried, was one of the four FTX top managers charged by the United States government in connection to the collapse of the cryptocurrency exchange. However, unlike the other three, which included Caroline Ellison, Gray Wang, and Nishad Singh, Salame did not testify against Bankman-Fried.
All four executives reportedly reached plea deals with U.S. prosecutors. 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 faces charges of campaign finance violations associated with his girlfriend, Michelle Bond’s, unsuccessful bid for New York’s First District in the House of Representatives. Bond was defeated in the Republican primary.
Both charges against Salame could potentially result in prison sentences of up to five years. Bankman-Fried’s legal team argued against the campaign contribution violation charges, claiming they were not part of his extradition agreement from the Bahamas. However, these charges were later included in the conspiracy to commit fraud charges against him.
During the trial, where he pleaded not guilty, Bankman-Fried claimed that he did not discuss his political donations with Salame. All four executives charged alongside Bankman-Fried have pleaded guilty to the charges against them.
Salame’s involvement in the criminal activities at FTX remains somewhat ambiguous. He was reportedly not part of Bankman-Fried’s inner circle and was deeply shocked by the exchange’s collapse, to the point of falling physically ill. However, court records from the Bahamas later revealed that he had informed the country’s Securities Commission about irregularities at the exchange in November 2022, leading to an investigation.