Gary

when

Read

Former FTX executive Ryan Salame will be issued a prison sentence on May 28 following his guilty plea last September.&nbsp;
Judge Lewis A. Kaplan of the South District of New York is <a href="https://www.courtlistener.com/docket/66631292/united-states-v-bankman-fried/?filed_after=&amp;filed_before=&amp;entry_gte=&amp;entry_lte=&amp;order_by=desc" target="_blank" rel="noopener noreferrer nofollow">scheduled</a> to rule on how long Salame will spend in jail for making illegal political donations under the instruction of&nbsp; FTX founder Sam Bankman-Fried.&nbsp;
Salame also admitted to conspiracy charges related to running an unlicensed money transfer business in Alameda Research. According to federal prosecutors, Salame acted as a straw donor for Bankman-Fried’s political lobbying and made at least 300 contributions to U.S. bipartisan campaigns.
You might also like: <a href="https://crypto.news/what-awaits-ftx-after-sam-bankman-frieds-25-year-sentence/" rel="noopener noreferrer nofollow"> What awaits FTX after Sam Bankman-Fried’s 25-year sentence? </a>
<h2 class="wp-block-heading" id="ftx-execs-await-sentencing">FTX execs await sentencing</h2>
Court dockets revealed that May 1 was the initial date for Salame’s sentencing, but the reasons for the shift are unclear. Other Bankman-Fried comrades like FTX co-founder Gary Wang, former Alameda Research CEO Caroline Ellison, and ex-lead engineer Nishad Singh also await sentencing.&nbsp;
All pled guilty to violations during their time in Bankman-Fried’s empire and testified as government witnesses after agreeing to plea deals. Meanwhile, the FTX founder himself was found guilty of seven criminal charges, including fraud, last year.
Judge Kaplan <a href="https://crypto.news/sam-bankman-fried-sentenced-25-years-ftx/" target="_blank" rel="noopener noreferrer nofollow">sentenced</a> Bankman-Fried to 25 years in prison and ordered that he repay over $8 billion stolen from his companies.&nbsp;
Elsewhere, bankruptcy administrators under new CEO John J. Ray III continue to recover assets and funds to repay creditors. The troubled crypto exchanges owe about $16 billion to more than 36,000 customers.&nbsp;
Ray and his team hope to reimburse creditors 90% of recouped wealth. As of last year, the estate said it held between $7 billion and $9 billion to cover the shortfall left behind by Bankman-Fried.&nbsp;
The company has liquidated assets like its <a href="https://crypto.news/ftx-sale-anthropic-abu-dhabi/" target="_blank" rel="noopener noreferrer nofollow">Anthropic stake</a>, $2 billion in Grayscale GBTC shares, and sold Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) tokens at a massive <a href="https://crypto.news/ftx-solana-discount-sale/" target="_blank" rel="noopener noreferrer nofollow">discount</a> to raise funds. However, claimants are dissatisfied with the firm’s decision to repay asset value derived from when bankruptcy was declared in November 2022.&nbsp;
Read more: <a href="https://crypto.news/ftx-claims-bankruptcy-vote/" rel="noopener noreferrer nofollow"> FTX ad-hoc grows to $700k in claims as community prepares for bankruptcy vote </a>

FTX straw donor Ryan Salame’s sentencing slated for May 28

İçindekiler

crypto.news

10 Nis 2024 tarihli diğer yazılar

WOO X Launches First-of-its-Kind Crypto Index Perpetual Contracts

Investor Interest Peaks as Polygon (MATIC) Competitor Awaits Top Exchange Listings

Bitcoin sinks below $68k following US inflation data release

Polkadot Falls More Than 4% In 24 hours

Major FUD Suspicion on This Binance-Listed Altcoin: Developers Forced to Clarify

Auradine, Bitcoin Mining Equipment Maker, Secures $80M in Funding Ahead of Halving

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!