Former FTX Exec Ryan Salame Asks for Lenient 18 Months in Prison

As a researcher with experience in the field of white-collar crime, I believe that the sentencing memorandum filed on behalf of former FTX executive Ryan Salame presents a compelling case for leniency. The document outlines Salame’s role at FTX and Alameda, which was largely operational and not directly involved in the core fraud perpetrated by Bankman-Fried’s inner circle.

Lawyers representing Ryan Salame, a previous FTX executive convicted of election fraud offenses in September, have appealed to the court for mercy and requested a prison term of 18 months as stated in a filing made on Tuesday.

During my tenure at FTX and Alameda, I was responsible for handling customer deposits via wires and converting their fiat currencies. Additionally, I took part in political donations utilizing Alameda’s resources, and spearheaded philanthropic projects in the Bahamas.

In legal documents, Salame’s lawyers contend that his involvement in the defunct businesses was more focused on operational tasks rather than being pivotal to the fraud. They bring up his collaboration with law enforcement, genuine regret, attempts to deal with his addiction problems, and the substantial personal and financial consequences he has endured due to the exchange’s failure as mitigating factors.

In the court filing, attorneys stated that “He was completely unaware of the deceitful and thieving schemes orchestrated by the four individuals at Alameda and FTX. Ryan neither stole from anyone nor deceived customers. Instead, he became a victim…Upon discovering the FTX scam, he swiftly reported it to Bahamian authorities.”

In the text, his lawyers emphasize that they voluntarily shared information with Bahamian investigators which instigated their probe into FTX, and similarly, they proactively handed over documents to the U.S. Attorney’s Office prior to receiving a grand jury subpoena.

The relentless scrutiny and criticism of FTX and Sam Bankman-Fried in the media have ensured that my professional reputation will be tarnished forever. This negative association will serve as an insurmountable barrier, preventing me from pursuing future employment opportunities.

As a crypto investor, I’ve kept a close eye on the developments between Caroline Ellison and Gary Wang, two former executives of Alameda-FTX. Recently, they both chose to plead guilty to the charges brought against them by U.S. authorities instead of going to trial. Their decision aims to secure more lenient sentences and potentially avoid jail time.