{"id":79200,"date":"2024-05-22T07:15:51","date_gmt":"2024-05-22T11:15:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79200"},"modified":"2024-05-22T07:15:54","modified_gmt":"2024-05-22T11:15:54","slug":"us-prosecutors-file-for-5-7-yrs-jail-term-for-ryan-salame","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-prosecutors-file-for-5-7-yrs-jail-term-for-ryan-salame\/","title":{"rendered":"US Prosecutors File for 5-7 Yrs Jail Term for Ryan Salame"},"content":{"rendered":"\n

US prosecutors are demanding a reduced prison sentence of five to seven years for former FTX executive Ryan Salame, wingman of FTX co-founder Sam “SBF” Bankman-Fried<\/a>.<\/p>\n\n\n\n

\"US
US Prosecutors File for 5-7 Yrs Jail Term for Ryan Salame<\/figcaption><\/figure>\n\n\n\n

Federal prosecutors submitted a sentencing memo to a Manhattan federal court on May 21, requesting Salame to serve a stringent sentence in light of his guilty plea for “serious crimes” associated with the misappropriation of funds from FXT investors.<\/p>\n\n\n\n

Bloomberg obtained a court filing in which U.S. prosecutors urged for a “just punishment” commensurate with the gravity of Salame's offence, in contrast to the position of his attorneys, who advocate for a maximum 18-month sentence.<\/p>\n\n\n\n

Prosecutors stated:<\/p>\n\n\n\n

\n

\u201cThe campaign finance offense is one of the largest-ever in American history, and the unlicensed money transmitting business exchanged more than $1 billion without proper supervision.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

The court has scheduled Salame's sentencing for assisting SBF in stealing $10 billion from users' funds for May 28. “Only a substantial period of incarceration could effectively deter the defendant and others and promote respect for the law,” the prosecutors continued.<\/p>\n\n\n\n

In light of SBF's conviction on seven felony offences, the U.S. District Court for the Southern District of New York \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>imposed a 25-year prison sentence on April 1. The first accomplice of the SBF to receive a sentence is Salame.<\/p>\n\n\n\n

Salame commenced employment with Alameda Research in Hong Kong in 2019 and subsequently ascended the corporate hierarchy to become CEO at FTX Digital Markets, the Bahamas-based subsidiary of FTX.<\/p>\n\n\n\n

Still awaiting sentencing are Caroline Ellison, Nishad Singh, and Gary Wang, who were also significant participants in the FTX fraud.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

US prosecutors are demanding a reduced prison sentence of five to seven years for former FTX executive Ryan Salame, wingman of FTX co-founder Sam “SBF” Bankman-Fried. Federal prosecutors submitted a sentencing memo to a Manhattan federal court on May 21, requesting Salame to serve a stringent sentence in light of his guilty plea for “serious […]<\/p>\n","protected":false},"author":12,"featured_media":79208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[778,19654,10731,13887],"class_list":["post-79200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-ryan-salame","tag-sbf","tag-us-prosecutors"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/image-54.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79200"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79208"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}