Prison Sentence For Former FTX Executive Ryan Salame Reduced By 1 Year

The prison sentence for Ryan Salame, the former FTX Digital Markets co-CEO, was reduced by 1 year.

Following the shortened prison time, Salame’s release date was changed from around April 2032 to March 1, 2031, according to Bureau of Prison records. The reasons for the reduced sentence remain unclear.

Former FTX executive Ryan Salame pleads guilty

Judge Initially Sentenced Ryan Salame To 7.5 Years In Prison

Salame pleaded guilty to engaging in campaign finance fraud and conspiracy to operate an unlicensed money-transmitting business in September 2023. His attorneys sought a shorter prison sentence no longer than 18 months initially, arguing that Salame’s asset forfeitures were already a significant punishment. They also claimed that he was unaware of the fraud at FTX.

“Ryan, who was not part of Sam Bankman-Fried’s innermost circle, was unaware of the crimes at the center of this case,” Salame’s legal team wrote in a May 14 sentencing memorandum.

Meanwhile, US federal prosecutors attempted to impose a prison sentence of 5-7 years for the former FTX executive. The judge presiding the case, Judge Lewis A. Kaplan, ended up ordering a longer sentence of 90 months on May 28 given the serious nature of the case and the substantial amount of money investors lost as a result of FTX’s collapse.

Salame Claimed His Guilty Plea Was Part Of A Deal To Protect Longtime Partner Michelle Bond

Earlier this year, Salame tried to vacate his guilty plea, claiming that it was part of a deal he made with the US Government to protect his longtime partner Michelle Bond, who is an alleged co-conspirator in the campaign fraud he pleaded guilty to, from legal action.

After unsealing an indictment on Aug. 29 against Bond that alleged she violated campaign financing laws during her 2022 congressional campaign, prosecutors opposed Salame’s motion and said his claims were “demonstrably false.” Salame subsequently withdrew the petition against his guilty plea.

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