4th FTX exec pleads guilty, agrees to forfeit Porsche and other property
Former FTX executive Ryan Salame pleaded guilty to two criminal charges yesterday, becoming the fourth former associate of Sam Bankman-Fried to enter guilty pleas.
A money judgment of $1.56 billion was entered against Salame, but he will be allowed to satisfy the judgment by making a $6 million payment to the US and forfeiting two properties, a business, and a Porsche. He also agreed to provide $5.6 million in restitution to FTX debtors.
Salame faces a maximum imprisonment of 10 years, consisting of five years for each charge. Salame was released on a $1 million bond and has sentencing scheduled for March 6, 2024. Meanwhile, Bankman-Fried’s trial is scheduled to begin in early October.
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