April

The US Federal Bureau of Investigation (FBI) reportedly searched the home of Ryan Salame &#8211; the former CEO of FTX&#8217;s Bahamian subsidiary.
The raid comes several months after the gigantic collapse of the once-prominent crypto giant. Numerous agencies, prosecutors, and failed investors have claimed the exchange committed fraud against its customers, calling upon severe punishment upon its leaders.
Sam Bankman-Fried (SBF) &#8211; the former CEO of FTX &#8211; spent a brief time in a Bahamian jail before being extradited to the US. He currently lives at his parents&#8217; house in California, awaiting a trial at the beginning of October.
<ul>
<li>According to a <a class="editor-rtfLink" href="https://www.nytimes.com/2023/04/27/technology/ftx-ryan-salame-sam-bankman-fried.html" target="_blank" rel="noopener" data-wpel-link="external">coverage</a> by The New York Times, the FBI raided Salame&#8217;s house in Potomac, Maryland, on April 27. However, the reason behind the operation remains unknown.</li>
<li>Salame joined the fallen crypto behemoth in 2021 to serve as the CEO of FTX Digital Marketing (the Bahamas-based affiliate of the exchange).</li>
<li>The 30-year-old emerged as a central player in the scandal last year after he told the regulators of the island nation that FTX might have misappropriated billions of dollars in clients&#8217; funds and transferred them to Alameda Research.</li>
<li>Salame also made the headlines by donating over $23 million to Republican candidates and political action committees.</li>
<li>For his part, SBF supposedly <a class="editor-rtfLink" href="https://www.cbsnews.com/news/ftx-sam-bankman-fried-political-donations-2022/" target="_blank" rel="noopener" data-wpel-link="external">pumped</a> around $40 million in political donations in the 2022 election cycle, mostly to Democrats.</li>
<li>The former leader of FTX faces severe charges, including committing wire fraud, conspiracy, and money laundering, after the exchange&#8217;s demise in November 2022 triggered multi-billion investor losses.</li>
<li>If found guilty in the October 2023 trial, he could spend his life in prison.</li>
</ul>
The post <a href="https://cryptopotato.com/former-ftx-boss-ryan-salames-house-raided-by-the-fbi-report/" rel="nofollow">Former FTX Boss Ryan Salame&#8217;s House Raided by the FBI (Report)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Former FTX Boss Ryan Salame’s House Raided by the FBI (Report)

CryptoPotato_News

Other articles published on Apr 28, 2023

Planting Seeds of Change: Mooky’s Revolutionary Approach to Cryptocurrency

6 Best Aptos Wallets 2024 : Which One is Right for You?

Benefits of becoming an NFT artist!

Coinbase CEO and Legal Officer Respond to SEC’s Wells Notice

Litecoin price analysis: LTC nears $90 as bulls carry on their lead

Ohio Bitcoin Thief Receives 4-Year Prison Sentence Due to Dollar-Filled Bathtub Photo

Join our free newsletter for daily crypto updates!