{"id":586152,"date":"2024-10-11T09:09:07","date_gmt":"2024-10-11T09:09:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=586152"},"modified":"2024-10-11T09:09:07","modified_gmt":"2024-10-11T09:09:07","slug":"former-sam-bankman-fried-lieutenant-ryan-salame-starts-jail-sentence-jokes-about-new-position-as-inmate-at-fci-cumberland-prison","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/former-sam-bankman-fried-lieutenant-ryan-salame-starts-jail-sentence-jokes-about-new-position-as-inmate-at-fci-cumberland-prison","title":{"rendered":"Former Sam Bankman-Fried Lieutenant Ryan Salame Starts Jail Sentence, Jokes About \u201cNew Position\u201d As Inmate At FCI Cumberland Prison"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ryan Salame, a former top lieutenant to Sam Bankman-Fried at the collapsed FTX crypto exchange, announced his arrival at FCI Cumberland prison in Maryland by lighthearedly updating his LinkedIn profile with the new position of &ldquo;inmate.&rdquo;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;I&rsquo;m happy to share that I&rsquo;m starting a new position as Inmate at FCI Cumberland!&rdquo; the former FTX Digital Markets co-CEO <\/span><a href=\"https:\/\/www.linkedin.com\/posts\/ryansalame_im-happy-to-share-that-im-starting-a-new-activity-7249992193048723456-YMII?utm_source=share&amp;utm_medium=member_desktop\"><span style=\"font-weight: 400;\">wrote<\/span><\/a><span style=\"font-weight: 400;\"> on LinkedIn.<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/academy-public.coinmarketcap.com\/srd-optimized-uploads\/8bd9bece11b14827a466b55c247a5bdd.jpeg\" alt=\"Just In: Ex FTX Exec Ryan Salame Asks For Two Months Sentence Delay: Guest Post by Coingape News Media | CoinMarketCap\"><\/p>\n<h2><span style=\"font-weight: 400;\">Ryan Salame Enters FCI Cumberland After Several Delays<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The humorous job update comes after Salame was convicted in May this year following a guilty plea related to multiple charges, including <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/michelle-bond-charged-with-illegally-funding-her-2022-campaign-using-ftx-cash\"><span style=\"font-weight: 400;\">campaign finance fraud<\/span><\/a><span style=\"font-weight: 400;\"> and operating an unauthorized money-transmitting business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During his trial, the prosecution said that Salame had helped Bankman-Fried conceal financial statements to make investors believe that the now-defunct exchange was in a good financial position prior to its collapse. Salame reportedly also donated a large sum of money to support Republicans.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ryan Salame, the former co-CEO of FTX who is reporting to federal prison today to serve seven and a half years on campaign finance fraud charges, posted this on LinkedIn today. <a href=\"https:\/\/t.co\/yykPAJ0Iko\">https:\/\/t.co\/yykPAJ0Iko<\/a> <a href=\"https:\/\/t.co\/aZkwzBRNUM\">pic.twitter.com\/aZkwzBRNUM<\/a><\/p>\n<p>&mdash; Daniel Lippman (@dlippman) <a href=\"https:\/\/twitter.com\/dlippman\/status\/1844426023645086031?ref_src=twsrc%5Etfw\">October 10, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Judge Lewis Kaplan, who presided over Salame&rsquo;s case, criticized the former FTX executive for having a &ldquo;me first&rdquo; attitude. The judge also accused Salame of intentionally avoiding taking actions that could have protected FTX investors&rsquo; funds. He was subsequently sentenced to 7.5 years in prison and 3 years of supervised release thereafter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Salame&rsquo;s start date to serve his sentence has faced multiple delays due to an injury from a dog bite.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Salame&rsquo;s Guilty Plea Plan Backfires<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to Salame and his defense, his <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/former-ftx-exec-ryan-salame-withdraws-guilty-plea-petition-as-longtime-partner-michelle-bond-faces-criminal-charges\"><span style=\"font-weight: 400;\">guilty plea<\/span><\/a><span style=\"font-weight: 400;\"> was made as part of an agreement that it would protect his partner Michelle Bond from being investigated for illegally funding her political campaign with FTX funds. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shortly before entering prison, the former FTX executive tried to withdraw his plea after prosecutors launched an investigation into Bond shortly after his deal.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/south-koreas-financial-watchdog-to-review-ban-on-spot-crypto-etfs\"><span style=\"font-weight: 400;\">South Korea&rsquo;s Financial Watchdog To Review Ban On Spot Crypto ETFs<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/on-chain-sleuth-zachxbt-alleges-murad-mahmudov-promotes-meme-coins-while-controlling-their-supply\"><span style=\"font-weight: 400;\">On-Chain Sleuth ZachXBT Alleges Murad Mahmudov Promotes Meme Coins While Controlling Their Supply<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/5-best-altcoins-to-invest-in-now-october-10-sui-wormhole-eos-toncoin\"><span style=\"font-weight: 400;\">5 Best Altcoins to Invest in Now, October 10 &ndash; Sui, Wormhole, EOS, Toncoin<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - 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