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Ryan Salame, the former co-CEO of FTX Digital Markets, has had his prison release date moved up to March 1, 2031, after serving a 7.5-year sentence for conspiracy to make unlawful political contributions and operate an unlicensed money-transmitting business. Initially set for release in April 2032, his sentence was shortened following a legal delay related to the indictment of his child's mother. The FTX exchange's collapse in November 2022 led to significant legal repercussions for its founder, Sam Bankman-Fried, who was sentenced to 25 years in prison.
Former FTX executive Ryan Salame had his prison sentence reduced by one year, now set for release in March 2031. He pleaded guilty to conspiracy to operate an unlicensed money-transmitting business and campaign finance fraud, originally sentenced to 7.5 years in May 2023. Salame's attorneys argued for a shorter sentence, claiming he was unaware of the FTX fraud, while federal prosecutors sought a 5 to 7-year term due to the case's severity.
The US government has rejected Sam Bankman-Fried's appeal to overturn his conviction related to the FTX collapse, deeming his claims of trial bias unfounded. The authorities maintained that the jury's verdict was sound and that the trial's procedures were lawful, dismissing his arguments for a retrial as lacking merit. Bankman-Fried's assertions regarding judicial bias and the overstated financial troubles of FTX were also deemed irrelevant to the case.
Gary Wang, co-founder of FTX, was sentenced to time served and three years of supervised release after pleading guilty to multiple fraud charges. He was ordered to forfeit $11 billion and credited for his cooperation with authorities, which included testifying against founder Sam Bankman-Fried. Wang expressed remorse in court, stating he took the "cowardly path" and vowed to make amends.
Lewis A. Kaplan
People
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16:50 20.11.2024
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