Former FTX executive Ryan Salame was sentenced to 90 months, or 7.5 years, in prison by the US DOJ on May 28. According to The New York Times, Salame is scheduled to surrender on August 29 and his legal team aims for him to serve his term at a federal prison in Cumberland, Maryland.

In addition to prison time, Salame must undergo three years of supervised release and pay more than $6 million in forfeiture and $5 million in restitution. US Attorney Damian Williams emphasized the severe consequences for his involvement in illegal campaign financing and running an unlawful money transmission business.

During sentencing, Judge Lewis Kaplan highlighted Salame's personal financial dealings, including substantial withdrawals during FTX's collapse, which were spent on personal expenses and a public relations firm. The judge criticized Salame for prioritizing his own interests over those of FTX's customers and condemned his role in illegal campaign finance activities.

Despite arguments from his defense team that Salame was unaware of former FTX CEO Sam Bankman-Fried's fraud and was manipulated by him, Judge Kaplan upheld the necessity of a lengthy sentence. The imposed sentence exceeds the five to seven years sought by prosecutors and far exceeds the 18 months requested by Salame's defense.

Salame played a significant role at FTX, serving as co-CEO of FTX Digital Markets and holding other senior positions at Alameda Research from 2019 to 2021. He conspired with fellow executives to operate an unlicensed money business, transferring customer funds without proper authorization and falsifying bank statements. Additionally, Salame collaborated with Bankman-Fried and Nishad Singh to illegally make over 300 campaign donations totaling tens of millions of dollars.

Salame's sentencing follows that of Bankman-Fried, who received a 24-year prison term in March. Other executives from FTX and Alameda Research, including Caroline Ellison, Nishad Singh, and Gary Wang, have also reached plea agreements but have not yet been sentenced.