Former FTX executive Ryan Salame faced the full force of justice when the US Department of Justice handed down a stern sentence of 90 months, equating to 7.5 years, behind bars on May 28. As reported by The New York Times, Salame is slated to turn himself in on August 29, with his legal team seeking his confinement at a federal correctional facility in Cumberland, Maryland.

However, the repercussions didn't end there. Alongside his prison term, Salame was ordered to undergo three years of supervised release, bearing the weight of financial restitution totaling more than $11 million, with over $6 million in forfeiture and an additional $5 million earmarked for restitution to those affected by his actions.

US attorney Damian Williams didn't mince words, emphasizing the gravity of Salame's crimes, including his involvement in illegal campaign financing and operating an unlawful money transmission business. Williams underscored the significant consequences awaiting those who engage in such illicit activities.

During the sentencing proceedings, Judge Lewis Kaplan painted a vivid picture of Salame's personal financial maneuvers, shedding light on hefty withdrawals made during FTX's turbulent downfall. These transactions, coupled with Salame's alleged prioritization of personal gain over the well-being of FTX customers, painted a damning portrait of his actions.

Furthermore, Judge Kaplan didn't shy away from addressing Salame's involvement in political financing crimes, expressing deep concern for the integrity of the country's political landscape. He lamented the potential jeopardy facing the nation's political institutions, exacerbated by events unfolding at FTX.

Despite efforts by Salame's defense team to portray him as an unwitting pawn in the schemes of former FTX CEO Sam Bankman-Fried, Judge Kaplan stood firm in his conviction of Salame's culpability. The defense's arguments notwithstanding, the judge upheld the necessity of imposing a substantial sentence, one that surpassed the prosecution's recommendations and the defense's pleas for leniency.

Salame's extensive history within the FTX ecosystem, including his role as co-CEO of FTX's Bahamas counterpart, FTX Digital Markets, and various high-ranking positions at Alameda Research, further underscored the depth of his involvement in nefarious activities. His collusion with fellow executives to operate an unlicensed money business and orchestrate illegal campaign donations painted a stark picture of his misconduct.

Salame's sentencing served as the latest chapter in the saga of legal reckoning within the FTX and Alameda Research spheres. Following in the footsteps of former CEO Sam Bankman-Fried's lengthy 24-year prison sentence, Salame's fate serves as a sobering reminder of the severe consequences awaiting those who engage in financial malfeasance. As other executives implicated in these activities await their own legal fate, the shadow cast by this episode continues to loom large over the cryptocurrency industry and beyond.