Shocking Twist: FTX Sam Bankman-Fried’s Former Partner Ryan Salame Fights to Nullify Guilty Plea

Ryan Salame, the former co-CEO of FTX Digital Markets Ltd., is seeking to overturn his conviction, alleging that the government violated a plea agreement. Salame’s lawyers claim the government promised to stop investigating his partner, Michelle Bond, to induce his guilty plea. However, they allege the government has now resumed its probe into Bond, prompting Salame to call for the vacating of his guilty plea in a recent court filing.

In a social media post, Salame expressed apprehension about the situation, highlighting his concern for his loved ones and his hope to encourage truthfulness. Salame had been sentenced to seven and a half years in prison and ordered to pay over $11 million in forfeiture and restitution in May. He pleaded guilty to involvement in a multi-million dollar campaign finance scheme but notably did not cooperate as a government witness. Salame did, however, testify in the trial of his former boss, Sam Bankman-Fried.

Bankman-Fried, convicted on seven counts of securities fraud and money laundering, is serving a 25-year prison term. Despite his alleged involvement in the campaign finance scheme, he was not charged further. Salame is set to surrender in October.

Other key figures in the FTX scandal, including Caroline Ellison, Nishad Singh, and Gary Wang, who testified against Bankman-Fried, await sentencing. Singh and Wang are scheduled for sentencing on October 30 and November 20, respectively, while Ellison’s sentencing date remains unspecified.

— CNBC’s Dan Mangan contributed to this report.

Original Story https://www.cnbc.com/2024/08/21/ftx-ryan-salame-asks-to-void-guilty-plea.html
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