Top FTX Official Admits Making Millions in Illegal Donations. Here Are All The Details

Benzinga

Ryan Salame, the former co-CEO of FTX's Bahamian subsidiary and a top lieutenant to Sam Bankman-Fried, pleaded guilty on Thursday to making tens of millions of dollars in unlawful campaign contributions to boost causes supported by his boss. Salame also pleaded guilty to one count of conspiracy to operate an unlicensed money-transmitting business. As part of his plea deal, Salame agreed to forfeit more than $1.5 billion and turn over various properties and vehicles totaling $6 million to satisfy the judgment. He will also pay $5.6 million in restitution to FTX.

Transcript

00:00 It's Benzinga and here's what's on the block.

00:02 Brian Salame, the former co-CEO of FTX's Bahamian subsidiary and a top lieutenant to

00:07 Sam Bankman-Fried, pleaded guilty on Thursday to making tens of millions of dollars in unlawful

00:11 campaign contributions to boost causes supported by his boss.

00:15 Salame also pleaded guilty to one count of conspiracy to operate on unlicensed money

00:19 transmitting business.

00:20 As a part of his plea deal, Salame agreed to forfeit more than $1.5 billion and turn

00:24 over various properties and vehicles totaling $6 million to satisfy the judgment.

00:28 For all things money, visit Benzinga.com.

00:30 [MUSIC PLAYING]

Category

Transcript

Comments

Recommended