Ex-FTX Digital Market co-CEO Ryan Salame will start serving his prison sentence earlier than planned on Oct 11, as a US court has approved the government’s request to expedite his self-surrender date. The fallout from the FTX collapse resulted in substantial losses for users, prompting regulatory actions by authorities.
Ryan Salame, a former executive at FTX Market, will now begin his prison term on Oct 11 instead of the initially scheduled Oct 13. Salame, who was sentenced to 7.5 years for various charges including involvement in unauthorized money-transmitting activities, had pleaded guilty.
During a court hearing on September 12, the prosecution explained that Oct 13 falling on a Sunday led to the request to move the surrender date to Friday, Oct 11. Salame, who has postponed serving his sentence due to a facial injury from a dog bite, required time for urgent surgery and treatment, as per his legal team.
Legal actions related to the FTX lawsuits have seen former CEO Sam Bankman-Fried handed a prison sentence, while Caroline Ellison is aiming to evade jail time before her sentencing. Nishad Singh and co-founder Gary Wang, who entered guilty pleas, are set for sentencing in November and October respectively.
Ryan Salame had previously sought to retract his guilty plea citing the prosecution’s failure to fulfill an agreement to drop the investigation into his partner Michelle Bond. However, the judge expressed skepticism towards his attempt to backtrack on his plea, warning of potential consequences for misrepresenting facts.