Federal prosecutors are calling for a prison sentence of five to seven years for former FTX executive Ryan Salame, who has been implicated in its multibillion-dollar collapse.
His defense team asserts that his punishment should reflect his role in exposing the fraud, pushing for a lighter sentence of no more than 18 months.
Salame’s Defense
According to a sentencing memo filed in federal court in Manhattan on Tuesday seen by Bloomberg, prosecutors emphasized the seriousness of Salame’s offenses. The memo stated, “The campaign finance offense is one of the largest-ever in American history, and the unlicensed money transmitting business exchanged more than $1 billion without proper supervision.”
In his defense, Salame’s attorneys have highlighted his cooperation with authorities and his efforts to expose potential fraud. They argue that Salame was the first FTX insider to alert Bahamian regulators to the upcoming crisis in late 2022.
Since pleading guilty in September, Salame
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