Ryan Salame, former co-CEO of FTX Digital Markets, has agreed to transfer his multi-million dollar property in the Bahamas as part of a plea agreement in a criminal case.
According to a motion filed by FTX Trading Ltd and its affiliated debtors in the U.S. Delaware Bankruptcy Court on May 1, Salame has agreed to give up his $5.9 million property in the Bahamas.
Salame pleaded guilty to criminal charges in September 2023, and the plea agreement required him to pay $5.6 million in compensation to the debtor. Salame proposed to transfer a residence he owned to FTX Digital Markets Ltd. instead of paying cash to meet the compensation requirements. (Cointelegraph)
Previous news, Ryan Salame, a former FTX executive, will be sentenced in a New York court on May 28 after pleading guilty to criminal charges. It is reported that Ryan Salame pleaded guilty in September to conspiracy to make illegal political contributions and conspiracy to operate an unlicensed remittance business.