Incarcerated former FTX director Ryan Salame appears to have already had a year shaved off his prison sentence.
Federal Bureau of Prisons records show Salame’s release date is now March 1, 2031.
The former co-chief executive of FTX Digital Markets reported to prison in October after being sentenced to 7.5 years behind bars, meaning he was initially set to be released around April 2032.
Salame pleaded guilty last year to conspiracy to make unlawful political contributions and to defraud the Federal Election Commission (FEC), as well as conspiracy to operate an unlicensed money transmission business.
In May, District Judge Lewis A. Kaplan sentenced the former director to 7.5 years behind bars, but a legal dispute over charges against his child’s mother, Michelle Bond, delayed the start of his prison sentence.
FTX imploded and filed for bankruptcy in November 2022, amid allegations that founder and CEO Sam Bankman-Fried mishandled the exchange’s funds by lending billions of dollars in customer deposits to Alameda Research, the company’s trading arm, to fund risky to make crypto bets that went wrong. .
The multi-billion dollar stock market collapse led to a sharp drop in crypto prices, and US federal authorities arrested Bankman-Fried the following month. In March, Judge Kaplan sentenced Bankman-Fried to 25 years in prison and three years of supervised release.
He also ordered the 32-year-old to pay an $11 billion forfeiture. Bankman-Fried is appealing his conviction and sentence.
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