The home of former FTX co-CEO Ryan Salame has reportedly been searched by the Federal Bureau of Investigation (FBI) as further scrutiny falls on the executive for his close advisory role to Sam Bankman-Fried.
An April 27 report from The New York Times, citing people with knowledge of the matter, said the Bureau searched Salame’s $4 million home in Potomac, Maryland on the morning of April 27.
It remains unclear what the authorities were looking for. Salame was the co-CEO of FTX Digital Markets, which was FTX’s Bahamas-based subsidiary.
As reported by Cointelegraph, Salame was a substantial beneficiary of suspicious loans and payments given to a number of the top executives of FTX by way of the now-bankrupt firms’ trading house Alameda Research.
Salame was the fourth-largest recipient of these payments, having received a total sum of $87 million in compensation. Bankman-Fried received $2.2 billion while former engineering director Nishad Singh and co-founder Zixiao “Gary” Wang received $587 million and $246 million respectively.
FTX’s new management, headed by attorney and bankruptcy specialist John Ray III, said at the time that it would be further investigating its rights to pursue potential action against the recipients, along with their subsequent transferees, and that ongoing efforts are “expected to result in the further identification of assets, liabilities and transfers.”
It added that it w
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Author: Tom Mitchelhill
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