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FTX fraudster Sam’s accomplices admitted their crimes and blamed SBF to receive lighter sentences. Once seen as the golden child of the US crypto space, Sam has now turned into a tarnished figure. Now, his accomplices are being punished.
FTX Sentences Are Being Determined
Using investors‘ money to take high-risk positions, purchase luxury properties, make generous donations, and buy shell companies, the FTX management caused BTC to drop to $15,500 in November 2022. Ryan Salame, one of SBF’s accomplices who admitted his crimes and cooperated with the court, received a 90-month prison sentence today. His crimes include:
- Making illegal political contributions
- Conspiring to defraud the Federal Election Commission
- Operating an unlicensed money transmitting business
US Attorney Damian Williams said:
“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and their collaborators through an illegal political influence campaign and an unlicensed money transmitting business that helped FTX grow faster and larger outside the law. Salame’s involvement in two serious federal crimes has undermined public confidence in American elections and the integrity of the financial system. Today’s sentence underscores the significant consequences of such crimes.”
