Coinspeaker
Former FTX Exec Ryan Salame Seeks to Void Guilty Plea Over Broken Government Promise
Ryan Salame, a former top executive at the beleaguered crypto exchange FTX, is asking a United States federal judge to cancel his guilty plea for violating campaign finance laws. He claimed the government failed to uphold a crucial part of the agreement.
In a court filing, Salame said he reached a deal with US prosecutors in September 2023, where he agreed to plead guilty related to his role in FTX’s collapse in November 2022. As part of the agreement, the government promised not to investigate his domestic partner, Michelle Bond, if he admitted his guilt. However, Salame has alleged that the government broke this promise by continuing to investigate Bond for campaign finance violations.
Salame Requests Judge Kaplan to Enforce the Deal
The former FTX executive who served as a co-CEO of the company alongside Sam Bankman-Fried (SBF) is now asking Judge Lewis Kaplan of the Manhattan District Court in New York to void his guilty plea. He argues that since the government did not keep its promise, he should be allowed to withdraw his plea.
During a court hearing on Wednesday, Salame’s defense lawyer explained that he agreed to the plea deal mainly to protect Bond and keep her out of jail.
Now that the government has resumed its investigation against Bond, Salame wants to withdraw from the deal. The lawyers have asked Judge Kaplan to either cancel Salame’s guilty plea or ensure that prosecutors keep their promise not to charge Bond or pursue any indictment against her.
Salame’s Concerns
Salame confirmed the court filing on his personal social media account, noting that he is nervous about the potential outcome of the case and what it would mean for his young family.
“It’s all true but I just made a court filing. I’m pretty nervous about it because I know it means the most powerful body in the world is going to come at me and my loved ones again, but I’m hoping it encourages more people to be honest and tell the truth and expose un-American. I hope it helps at least one person in the future; the justice system is fragile but so important,” he wrote on X.
Salame is scheduled to start serving his prison sentence on October 13. Last year, he was sentenced to nearly 8 years in prison as part of his plea deal. At that time, it was reported that he could forfeit over $1.5 billion to make amends for orchestrating illegal contributions and defrauding the Federal Election Commission.
To cover these costs, the former FTX executive agreed to forfeit more than $6 million in assets, including a 2021 Porsche and several properties, including two homes in Massachusetts. He also transferred ownership of his East Rood Farm Corporation to the US government.
Former FTX Exec Ryan Salame Seeks to Void Guilty Plea Over Broken Government Promise
