Just In: Ex FTX Exec Ryan Salame Asks For Two Months Sentence Delay

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As an analyst with extensive experience in the cryptocurrency industry, I find myself both intrigued and saddened by the latest developments surrounding Ryan Salame, the former co-CEO of FTX Digital Markets. While I understand the need for medical attention after a severe injury like a dog bite, it seems that the court has already shown leniency once in this case. However, the government’s opposition to further delays suggests a growing impatience with Salame’s legal maneuvers.

Ryan Salame, previously a co-CEO of FTX Digital Markets, is seeking an additional delay in the commencement of his prison term due to ongoing medical needs. His attorney recently submitted a court motion extending the surrender date from October 11, 2022, to December 7, 2024. This request follows an attack by a dog in June, and Salame’s doctor has advised for further treatment.

Ex FTX Exec Ryan Salame Asks For Another Sentence Delay

In August, Ryan Salame asked for a postponement for the first time due to a dog bite injury on his face that occurred at the end of June. According to the court records, he required immediate surgery and the court granted this request by letting him appear in court on October 11 rather than the initial date in August.

The former FTX executive’s lawyers argued that an extension was vital for continued medical care and recovery.

This recently submitted plea asserts that Salame still needs additional medical care and isn’t fit to start serving his sentence at this time. His lawyer also mentioned this point.

The doctor overseeing Salame’s care recommends additional treatment for a complete recovery.

Government Opposes the Request

Despite voicing opposition, the government has indicated they are not on board with Salame’s proposal to further postpone his incarceration, as the initial agreement was for him to surrender in October, following the August delay. Now, there’s a proposed extension of another two months.

The Ex FTX exec latest filing was made only days before Ryan Salame is due to start serving a 7.5-year sentence for embezzlement.

In September 2023, Salame admitted to a plea bargain following his conviction for multiple criminal charges, which involved illegal political donations and operating an unregistered money transfer service. These legal troubles are one aspect of the fallout from the collapse of a cryptocurrency exchange, an exchange that Sam Bankman-Fried founded.

Sentencing and Connection to FTX Scandal

Salame played a significant role on the global core team of FTX Digital Markets, which forms the backbone of FTX’s operations worldwide. He worked alongside Bankman-Fried, who recently received a nearly 25-year prison sentence due to fraud charges earlier this year. As the investigation into the collapse of the crypto exchange progressed, Salame and other executives such as Caroline Ellison, Nishad Singh, and others found themselves facing legal allegations.

As Ellison and Singh wait for their sentencing, Ryan Salame’s impending prison term approaches, though he is currently seeking postponement from the court. Meanwhile, the ongoing bankruptcy proceedings surrounding FTX continue to draw attention.

Following Salame’s legal disputes, they are significant within the broader scenario involving FTX’s downfall. This event has caused both customers and creditors to attempt recovering billions that were lost. Notably, US Bankruptcy Judge John Dorsey has approved a bankruptcy plan, which means the crypto exchange’s creditors will likely receive approximately $6.6 billion. Initial payouts are anticipated within the coming two weeks.

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2024-10-09 20:08