Coin

<ul class="news-points">
 <li>Former FTX executive could face up to 7 years for role in crypto exchange’s collapse.</li>
 <li>Sentencing memo highlights unlicensed money transfers, massive campaign finance violations.</li>
 <li>Defense argues for leniency, citing Salame’s early cooperation with authorities.</li>
</ul>
In the wake of the FTX crypto empire’s collapse, U.S. prosecutors are seeking a 5- to 7-year prison sentence for former executive Ryan Salame. Salame has pleaded guilty to his role in the scandal that led to the exchange’s multibillion-dollar failure. His legal team has countered with a request for a <a href="https://coinedition.com/ftx-collapse-salame-requests-lenient-sentence-claims-innocence/" rel="noopener noreferrer nofollow">lighter sentence</a> of no more than 18 months.
A sentencing <a href="https://www.bnnbloomberg.ca/former-ftx-executive-deserves-5-to-7-years-in-prison-us-says-1.2075791" target="_blank" rel="noopener noreferrer nofollow">memo filed</a> Tuesday in Manhattan federal court underscored the severity of Salame’s offenses, arguing that a substantial sentence is necessary to deliver just punishment.
Salame’s offenses included campaign finance violations, which rank among the largest in U.S. history. The prosecutors also pointed out his involvement in an unlicensed money-transmitting business that handled over $1 billion without proper oversight.
Notably, Salame is set to be sentenced on May 28. This marks the first sentencing of a top lieutenant under FTX co-founder Sam Bankm…
The post <a href="https://coinedition.com/from-ftx-bahamas-ceo-to-potential-prison-inmate/" rel="noopener noreferrer nofollow">From FTX Bahamas CEO to Potential Prison Inmate</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

From FTX Bahamas CEO to Potential Prison Inmate

Coin Edition

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