A lieutenant to FTX cryptocurrency fraudster Sam Bankman Freed made a light-hearted post on LinkedIn, teasing the difficult times ahead for him on the job.
Ryan Salame, former co-CEO of FTX Digital Markets, was charged with making tens of millions of dollars in illegal campaign contributions to support Bankman Fried's political machinations. He is scheduled to begin his nearly eight-year prison sentence on Friday.
“I am happy to announce that I am taking a new position as an inmate at FCI Cumberland!” Salame wrote on a social networking site on wednesday.
FCI Cumberland is a medium-security federal prison for male offenders in Maryland, “with an adjacent minimum-security satellite camp,” according to its website.
The two facilities house a total of 1,001 inmates.
Salame did not cooperate in the federal case against Bankman Fried, but he provided nearly 600,000 pages of documents to authorities.
In November 2022, he tipped off to authorities that FTX customer funds were being secretly transferred to Bankman Fried's trading company Alameda Research to “cover financial losses.” Worth noting.
Nevertheless, Salameh pleaded guilty to charges of conspiracy to make illegal political contributions and conspiracy to operate an unauthorized money transfer business, and received a harsher prison sentence than the one sought by prosecutors.
He also had to forfeit more than $1.5 billion as part of his plea deal, but prosecutors agreed to forfeit $6 million, two Massachusetts properties and a 2021 Porsche to satisfy the terms.
Earlier this year, Bankman Fried was sentenced to 25 years in prison for stealing $8 billion from FTX customers.
with post wire
