Ex-FTX exec Salame won’t testify in alleged illegal campaign donation case

Tuesday, 15 Aug 2023

Cointelegraph By Brayden Lindrea

Original Article

Ryan Salame plans to plead the Fifth if he is asked to testify at Sam Bankman-Fried’s criminal trial, according to United States prosecutors.


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Former FTX executive Ryan Salame will reportedly avoid testifying about his role in FTX’s alleged illegal campaign donation scheme if he is subpoenaed in Sam Bankman-Fried’s criminal trial.

Lawyers representing the former FTX co-CEO said that Salame will be unavailable as a witness to the case, according to an Aug. 14 motion filed by United States federal prosecutors.

“Salame’s attorney has represented that if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination,” the prosecutor’s motion states, adding that Salame would be “unavailable as a witness.”

From the US government’s motion in limine in the Sam Bankman-Fried criminal trial: “[Ryan] Salame is unavailable as a witness… Salame’s attorney has represented that if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination.” pic.twitter.com/NrB5d6PJDH

— Molly White (@molly0xFFF)

August 15, 2023

Salame, a former co-CEO of FTX Digital Markets with close ties to Sam Bankman-Fried, donated more than $24 million to Republican campaigns, according to Open Secrets.

The former FTX executive is reportedly facing possible finance campaign violation allegations of his own and is considering a plea deal with the federal prosecutors.

He was a substantial beneficiary of loans and payments given to a number of the top executives of FTX by way of the now-bankrupt firms’ trading house Alameda Research.

Related: Superseding indictment against Sam Bankman-Fried includes using $100M for campaign contributions

Salame had his house searched by the U.S. Federal Bureau of Investigation in April. However it remains unknown what exactly they were looking for.

He was considered a close business partner of Bankman-Fried, who is currently imprisoned and is facing fraud charges in his upcoming trial in October.

Cointelegraph reached out to Salame for comment but has not recieved an immediate response.

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Magazine: Deposit risk: What do crypto exchanges really do with your money?


Cointelegraph By Brayden Lindrea

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