Ryan Salame, the former co-CEO of FTX’s U.S. operations, is reportedly engaged in discussions with authorities regarding a potential guilty plea admission in September. This would encompass several charges including alleged campaign finance violations, according to Bloomberg.
Salame, a prominent Republican donor, had been under investigation for suspected infractions of campaign finance laws related to his girlfriend’s Congressional bid. Both individuals allegedly exceeded federal limits on contributions.
While not yet charged in connection to FTX’s collapse, Salame had informed regulators about suspected misconduct at the now-bankrupt crypto empire prior to charges against its founder Sam Bankman-Fried.
With a plea deal not finalized, Salame could potentially serve as a government witness in Bankman-Fried’s upcoming trials. The former CEO maintains innocence but executives Caroline Ellison and Gary Wang have pleaded guilty to fraud charges.
Meanwhile, federal prosecutors intend to reintroduce a campaign finance violation charge against Bankman-Fried after it was initially dropped on a technicality.
By connecting it to existing counts, prosecutors aim to highlight its linkage to the alleged broad scheme to defraud investors out of billions. This demonstrates their determination to fully prosecute the FTX case on all fronts.
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