Former FTX co-CEO Ryan Salame was sentenced to 90 months in prison yesterday, as announced by Damian Lewis, U.S. Assistant Attorney General for the Southern District of New York. 🏛️

Salame previously pleaded guilty to conspiracy to make illegal political contributions and to defraud the Federal Election Commission, as well as conspiracy to operate an unlicensed money transmitting business before U.S. District Judge Lewis A. Kaplan , who handed down the fine today.

Salame served as co-CEO of FTX Digital Markets, FTX's Bahamas-based subsidiary, from 2019 to 2021.

His lawyer had asked for a prison sentence of no more than a minimum of 18 months. They asked for leniency by mentioning that he was the first person in FTX to notify the Bahamian authorities of the possible fraud in late 2022, shortly before the company filed for bankruptcy.

In contrast, the prison watchdog in the United States has recommended a more severe penalty - a 10-year prison sentence.

In addition to prison time, the 30-year-old former FTX operator also received three years of probation after his release from prison. He was also fined more than $6 million and ordered to pay restitution in excess of $5 million. 💰

Earlier this year, Bankman-Fried received a 25-year prison sentence after being convicted of using billions of dollars in customer deposits to offset risky investments by his hedge fund, Alameda Research, implement.