Conspiracy Charges
Ryan Salame, a former high-ranking official at Alameda Research and co-CEO of FTX, has been sentenced to 90 months in prison. He pleaded guilty to conspiracy to defraud the Federal Election Commission and operate an unlicensed money-transmitting business.
Illegal Political Contributions
Salame conspired with Sam Bankman-Fried and Nishad Singh to make campaign contributions that concealed Bankman-Fried’s involvement. These contributions aimed to boost Bankman-Fried’s influence in Washington, D.C., promote FTX, and gain favor with politicians who could support their agenda.
Unlicensed Money Transmitter Business
Salame also operated an unlicensed money-transmitting business. This business was not subject to the same regulations as licensed businesses, potentially putting investors at risk.
Consequences
Salame’s actions have undermined public trust in elections and the financial system. He has been ordered to pay over $6 million in forfeiture and $5 million in restitution. He will also be under supervised release for three years after his prison sentence.
