Odaily Planet Daily News Former FTX executive Ryan Salame pleaded guilty to federal criminal charges related to FTX on Thursday and was released on $1 million bail. He will be confiscated over $1.5 billion in assets. Salame pleaded guilty to conspiracy to make illegal political donations and to defraud the Federal Election Commission, as well as conspiracy to operate an unlicensed money transmission business.
During his guilty plea, Salame told Judge Lewis Kaplan that he made political donations in his own name and the funds came from transfers from an Alameda subsidiary. The transfers were "classified as loans" but "it was known that the money would not be repaid". According to Salame, the donations "are to help initiatives initiated by others but supported by SBF."
Salame has been ordered to hand over more than $1.5 billion in assets as part of a plea deal with the government. He agreed to pay a $6 million fine before sentencing next March. To make the payment, Salame has agreed to give the government a "2021 Porsche" and multiple properties, including two homes in Massachusetts, as well as title to the East Rood Farm company he owns.
Additionally, Salame was ordered to pay over $5.5 million in damages to FTX debtors. (CoinDesk)
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