
Former FTX Executive Ryan Salame Withdraws Petition to Cancel Guilty Plea
Former FTX executive Ryan Salame withdraws his petition to cancel his guilty plea as prosecutors accuse him of trying to escape sentencing.
Former FTX executive Ryan Salame withdraws his petition to cancel his guilty plea as prosecutors accuse him of trying to escape sentencing.
Salame confirmed the court filing on his personal social media account, noting that he is nervous about the potential outcome of the case and what it would mean for his young family.
FTX executive Ryan Salame faces two major allegations. First, Salame helped FTX accept customer deposits via a US bank account without proper licensing. Second, Salame is accused of serving as a straw donor for Sam Bankman-Fried.
The attorneys representing Salame have informed the court that their client was not involved in the inner circle of FTX led by convicted Sam Bankman-Fried (SBF).
In a significant development within the bankruptcy proceedings involving the defunct exchange FTX and its debtors, Ryan Salame, former co-chief executive of the company, has agreed to forfeit his $5.9 million Bahamas property as part of a plea deal in a criminal case.
Salame’s decision to cooperate with authorities and admit to his involvement in the alleged misconduct at FTX comes as a reversal of his earlier stance.
According to a Guardian report, the defunct exchange FTX has already recovered $7.3bn of customer funds