Posted on 05/28/2024 10:12:41 AM PDT by yesthatjallen
The first close associate of Sam Bankman-Fried to plead guilty in the aftermath of FTX‘s downfall will be sentenced on Tuesday.
What Happened: Ryan Salame, former CEO of FTX's Bahamas subsidiary, struck a plea deal with federal prosecutors in September. This occurred just weeks before Bankman-Fried was set to go on trial for allegedly stealing about $10 billion from customers, investors, and lenders.
Salame pleaded guilty to violating campaign finance laws and operating an unlicensed money transmitter. Bloomberg reported that prosecutors are seeking a sentence of five to seven years, while the defense argues for 18 months or less.
Judge Lewis A. Kaplan‘s decision could set a precedent for other former FTX executives facing charges. Salame's attorneys claim he was unaware of the fraud and believed the companies were legitimate and profitable.
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(Excerpt) Read more at msn.com ...
Which campaigns was he financing?
“Which campaigns was he financing?”
IIRC it was almost all dems.
If it was dims he’ll get 10 months and out in 5 with good behavior.
Apparently SBF thought he was buying immunity by bribing Democrat politicians. The problem was FTX was such a joke that even the SEC and DOJ couldn’t ignore it anymore.
He got 7.5 years.
>>If it was dims he’ll get 10 months and out in 5 with good behavior.
And he will still vote in November.
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