After reportedly pleading guilty during his court appearance on September 7, Ryan Salame, former co-CEO of FTX Digital Markets, has been released on a $1 million bond with the support of two co-signers.

Following the confessions, Judge Kaplan reportedly stated “You will pay to the US $6 million by the time you are sentenced and give up two properties in Lenox Mass and a Porsche auto.”

Ryan Salame’s Guilty Plea Could Lead To A Decade In Prison

According to Inner City Press’ X (formerly Twitter) thread, following his guilty plea, Salame secured release under specific conditions. This includes a $1 million bond and the requirement of two guarantees to ensure his court appearances.

Judge Kaplan has pushed back sentencing for Salame until March 6. Salame reportedly pleaded guilty to campaign finance laws and operating FTX as “an unlicensed money transmitting business.”

Kaplan clarifies that both charges have a maximum prison sentence of five years, which each can be served consecutively.

Salame allegedly pleaded guilty to the charges:

“I made $10 million in political contributions and called them loans, which I never intended to repay, this was supported by Sam Bankman-Fried.I knew it was prohibited.”

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Author: Ciaran Lyons

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