The former co-CEO of bankrupt crypto exchange FTX is reportedly pleading guilty to criminal charges following the company’s high-profile collapse.
In a new report, anonymous sources familiar with the matter tell Bloomberg that former FTX executive Ryan Salame plans to plead guilty to fraud charges related to the demise of the crypto exchange and illegally donating more than 20 million dollars in stolen money to the Republican party. .
Salame, who was in charge of FTX’s Bahamas subsidiary, allegedly acted as a straw donor for disgraced FTX founder and former CEO Sam Bankman-Fried.
The news comes weeks before Sam Bankman-Fried is due to stand trial for allegedly mishandling billions of dollars in client funds and defrauding investors, though it’s unclear if Salame will testify against Bankman-Fried, according to the report.
Other members of Bankman-Fried’s inner circle, such as Caroline Ellison, CEO of Alameda, FTX co-founder Gary Wang, and head of tech Nishad Singh, have all previously pleaded guilty and have agreed to cooperate with prosecutors in hopes of leniency. get punishments.
Bankman-Fried’s long-awaited trial may be postponed and combined with his previously scheduled case related to counterfeiting charges in the Bahamas, as his lawyers argue officials have not given him enough time to review the evidence.
However, it was reported that Judge Lewis Kaplan, who is presiding over the trial, is considering pushing the date back, but would probably not allow an extension simply because of the sheer amount of evidence. If convicted of his charges, Bankman-Fried could face decades behind bars.
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