10.4 C
Washington

FTX exec Ryan Salame pleads guilty to criminal charges

Date:

Share:


Ryan Salame, who ran FTX’s Bahamas subsidiary, pleaded guilty to two criminal charges on Thursday. They are conspiracy to make unlawful political contributions and defraud the Federal Election Commission and conspiracy to operate an unlicensed money transferring business.

“I made political contributions in my name that were funded by transfers from an Alameda subsidiary,” Salame said in court, according to CoinDesk.

The former FTX executive also agreed to turn over more than $1.5 billion in assets. Salame — like Caroline Ellison, Nishad Singh, and Gary Wang, the other three executives who’ve already pleaded guilty to fraud charges — was a member of Sam Bankman-Fried’s inner circle. He also spent millions on Republican election campaigns.

The plea ramps up pressure on Bankman-Fried, whose fraud trial is scheduled to begin next month. Bankman-Fried has pleaded not guilty; Ellison, Singh, and Wang agreed to cooperate with the government against him.

“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law,” US Attorney Damian Williams said in a statement.

Salame was investigated separately by federal prosecutors for donations to his girlfriend’s campaign in New York’s First Congressional District, The Wall Street Journal reported. That Republican candidate, Michelle Bond, lost her primary.



Source link

Subscribe to our magazine

━ more like this

The best Memorial Day deals you can already get

The summer solstice may be when summer officially kicks off, but for many of us, it starts as soon as temperatures begin to...

The new quiet luxury is burgers and fries: Over 60% of Americans are buying less fast food because it’s just too expensive, survey finds

Move over, Hermes and Miu Miu—the newest luxury purse flying under the radar is a crinkled paper bag filled with burgers and greasy...

Bluesky now lets you send DMs

Bluesky will now let you send a direct message to other users. For now, you can only send messages containing text, but Bluesky...

America’s landfills are ‘garbage lasagnas’

America’s landfills—and the environmental havoc they create—are sizable. There are roughly 1,200 landfills currently in operation and on average, each one takes up...

You can get rid of AI Overviews in Google Search

If you’ve searched for something on Google lately, you might’ve noticed a wall of text that appears before the actual search results. This...