Ryan Salame, former co-CEO of FTX Digital Markets, has requested a delay in his jail term to December 7, 2024, citing ongoing medical treatment needed after a dog attack.
Ryan Salame, the former co-CEO of FTX Digital Markets, has requested an additional extension of time before he is ordered to begin serving his prison sentence.
He has stated that he continues to require medical attention. Salame’s attorney submitted the most recent motion to the court, which requests that the surrender date be postponed from October 11 to December 7, 2024. The request is in response to Salame’s doctor’s recommendation for additional treatment following his attack by a dog in June.
Ryan Salame Requests Additional Sentence Delay
Ryan Salame had requested his initial continuance in August following a dog wound to his face in late June. As indicated in the court documents, he required emergency surgery, and the court permitted him to surrender on October 11, as opposed to the original date of August.
The legal representatives of the former FTX executive stated that the extension is essential for medical rehabilitation and treatment.
Salame’s latest request, which was submitted this week, asserts that he is still in need of additional medical attention and is not capable of commencing his imprisonment. In addition, Salame’s attorney stated,
“Salame’s treating physician has advised that Salame needs to be under further treatment to fully recover.”
The Government Opposes the Request
Nevertheless, the government has objected to the second postponement, indicating that it has not endorsed Salame’s request to extend his prison sentence. In August, the parties agreed to delay his surrender until October. The current motion seeks an additional two months.
The most recent filing by the former FTX executive was submitted mere days prior to Ryan Salame’s commencement of a 7.5-year sentence for embezzlement.
In September 2023, Salame entered into a plea agreement after being convicted of a number of criminal offenses, including the illicit provision of political contributions and the operation of an unlicensed money-transmitting business. The failure of the crypto exchange, which Sam Bankman-Fried established, has resulted in his legal troubles, which are merely one of the repercussions.
Sentencing and its Relationship to the FTX Scandal
Salame was a critical FTX Digital Markets team member, the foundation of FTX’s global operations. He collaborated with Bankman-Fried, who was sentenced to nearly 25 years in prison earlier this year for a fraud conviction.
Salame and other executives, such as Caroline Ellison and Nishad Singh, were required to confront certain legal accusations while investigating the crypto exchange’s collapse.
Salame’s prison term is scheduled to commence imminently, unless the court grants his most recent request, although Ellison and Singh, among other executives, are awaiting sentencing.At the same time, the FTX bankruptcy situation continues to be a topic of discussion as Ryan Salame endeavors to postpone the execution of his sentence.
Consequently, Salame’s legal disputes are a component of the broader context of FTX’s collapse, which has resulted in customers and creditors attempting to recoup billions in lost funds.
Nevertheless, the US bankruptcy judge John Dorsey has recently approved a bankruptcy plan that will result in the crypto exchange’s creditors receiving approximately $6.6 billion. The initial payments are anticipated to be issued within the next few weeks.
