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Former FTX executive Ryan Salame withdraws his petition to cancel his guilty plea as prosecutors accuse him of trying to escape sentencing.
A former executive at the collapsed cryptocurrency exchange FTX Ryan Salame has taken back his request to cancel his guilty plea for breaking campaign finance and money transfer laws.
In an August 29 filing, Salame’s lawyer informed the United States District Court for the Southern District of New York that they have dropped the petition and that his partner, who also is facing criminal charges, may pick up the issue of his guilty plea in her own case. They said:
“To be clear, Mr. Salame stands by the facts set forth in the petition and his accompanying declaration.. Mr. Salame is withdrawing the petition, however, to allow the facts to be developed by Ms. Bond, and a ruling to be made, in her case […] it makes sense to adjudicate the issues raised in the petition in the docket in which the indictment is pending.”
On August 21, Salame filed a petition to the court, asking the judge to void his guilty plea. In his defense, he claimed that the prosecutor went against the agreement not to investigate his fiancee, Michelle Bond, who was a Republican Congressional candidate in 2022. He stated that the government implied it would stop looking into Bond if he pleaded guilty. The appeal stated:
“But the Government later failed to honor that commitment when it continued to investigate and pursue charges against Bond. Salame is entitled to hold the Government to its assurance by either withdrawing his plea or obtaining an order directing specific performance.”
Despite Salame withdrawing his petition, the Judge will continue with his original petition on September 12.
Prosecutors Seek to Dismiss Salame’s Petition, Accuse Him of Attempting to Escape Sentencing
Prosecutors have also asked the court to dismiss Salame’s petition. They told the court that the former FTX executive is only trying to escape being sentenced for his crimes. In their defense, they noted that no deal had been made concerning Bond’s case.
The investigation into Salame and Bond began in 2023, focusing on the funds Salame provided to Bond and the loans she used to finance her congressional campaign. In April 2023, authorities executed a search warrant at the couple’s $4 million Maryland mansion.
Salame was sentenced to 90 months in prison and was supposed to resume his sentence on August 29. However, he pleaded for delay, citing medical complications from a dog bite; he is set to commence his prison sentence on October 13. His partner, on the other hand, pleaded not guilty to the charges and was released on a $1 million bail. Both Bond and Salame were told to forfeit their travel documents.
Salame managed Bankman-Fried’s political donations, which included sending money to different GOP candidates, including his partner, Bond, during his time at the collapsed company.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
