🔥 FTX Executives Face Continued Legal Challenges
posted 15 May 2024
Attorneys for Ryan Salame, a former top executive of the bankrupt crypto exchange FTX, are seeking a sentence of no more than 18 months in prison. They assert that their client had no involvement in the fraudulent activities orchestrated by former CEO Sam Bankman-Fried.
Salame was in charge of managing bank deposits, political donations, and charitable initiatives. According to his lawyers, following the collapse of FTX, Salame lost all his personal savings, fully cooperated with authorities, and is currently battling a substance abuse addiction.
He had absolutely no knowledge that the four people at the center of Alameda and FTX had conspired to lie and to steal from their customers. Ryan stole from no one. He did not lie to customers,the attorneys stated.
Additionally, the defense argues that the constant public scrutiny and his association with the bankrupt FTX have already tarnished his reputation and future employment prospects. Previously, Sam Bankman-Fried was sentenced to 25 years in prison and fined for fraud.
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