Former FTX Executive Sentenced to 7 Years in Prison
The BBC's Peter Hoskins is reporting that former co-CEO of FTX's Bahamian subsidiary, Ryan Salame, has been sentenced to 90 months in prison according to U.S. federal prosecutors.
According to the BBC report, Salame pleaded guilty in September of 2023 "to violating political campaign finance laws and operating an illegal money-transmitting business." The report goes on to say that later in November of 2023, a jury found Salame guilty on seven fraud and conspiracy accounts related to his involvement with FTX.
Ex-FTX executive sentenced to over 7 years in prison https://t.co/BPSzCzrWA9
— BBC News Technology (@BBCTech) May 29, 2024
Back in March of this year, former FTX boss Sam Bankman-Fried was sentenced to 25 years in prison for fraud. In total, there have been multiple cases brought against former FTX executives related to FTX's historic collapse. It seems that the story of FTX may be finally coming to an end.
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By: SportsLifeMoney™ Staff
