Sam Bankman-Fried's close aide Ryan Salame will serve 7 1/2 years in a medium-security facility
Ryan Salame, the former co-CEO of FTX Digital Markets, has been seeking a two-month delay for the start of his prison sentence due to alleged injuries from a dog. However, it appears he has come to terms with his situation. In a recent LinkedIn post, he announced his new role as an inmate at FCI Cumberland.
For those unfamiliar, the Federal Correctional Institution in Cumberland is a medium-security prison for male inmates in Maryland. Salame is set to report to the facility on Friday to begin serving his seven-and-a-half-year sentence.
Salame was a close aide to disgraced FTX CEO Sam Bankman-Fried and served as the head of FTX’s Bahamas subsidiary, where he played a significant role in the company’s political fundraising efforts. Earlier this year, a U.S. court sentenced him to 90 months in prison and ordered him to pay more than $6 million in forfeiture and more than $5 million in restitution.
Following FTX’s collapse in November 2022, Salame became the first deputy of Sam Bankman-Fried to be sentenced. The 30 year old was the head of FTX’s subsidiary in the Bahamas, where the crypto exchange was based; last year, he pleaded guilty to violating campaign finance laws and operating an unlicensed business in his work with FTX. Prior to the crypto exchange’s failure, Salame lived a lavish lifestyle of snapping up expensive cars, private jets, and fancy restaurants, per media reports.
Earlier this year, Bankman-Fried was sentenced to 25 years in prison. His close associates—Caroline Ellison, Gary Wang, and Nishad Singh—pleaded guilty to fraud charges. Caroline was sentenced to two years in prison and is scheduled to surrender on or after November 7. Singh is set to receive his sentence on October 30, while Wang’s sentencing is scheduled for November 20.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
