Former ftx executive ryan salame accuses government of breaching plea agreement

Former FTX Executive Ryan Salame Accuses Government of Breaching Plea Agreement

Last Updated: August 23, 2024By

Attorneys representing Ryan Salame, the former FTX executive recently sentenced to 7.5 years in prison, have filed a motion seeking judicial enforcement of a purported plea agreement. This agreement allegedly involved the government agreeing to halt its probe into Salame’s partner, Michelle Bond, or alternatively, vacate Salame’s conviction.

Bond, a former Republican congressional candidate and current CEO of a fintech think tank, is under scrutiny by federal prosecutors in Manhattan for purported campaign finance infractions related to contributions from Salame and others during her 2022 campaign.

Salame, who admitted to campaign finance violations in September 2023, was subsequently sentenced in May for both these violations and charges linked to operating an unlicensed money transmitting business—stemming from his involvement in FTX’s fiat-to-crypto payment operations.

Salame’s legal team contends that his guilty plea was coerced by prosecutorial promises to shield Bond, with whom he shares a child, from further legal jeopardy. They assert in their court filing that the government has reneged on its implied commitment, thus failing to uphold its end of the bargain.

“Despite Salame’s cooperation,” the attorneys argue, “the Government did not honor its implied assurance not to pursue the campaign finance charges against Bond.” They claim that the plea negotiations were used as leverage to intimidate Bond, and the government had initially conveyed it would cease its investigation into her if Salame agreed to plead guilty.

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The filing requests that the court either compel the government to fulfill its original promise regarding Bond or annul Salame’s conviction entirely. “Salame is entitled to enforce the Government’s assurance by either retracting his plea or obtaining a court order for specific performance,” the motion asserts.

Publicly, Salame remains outspoken about the matter, expressing his hope on social media that his legal action will “inspire more individuals to be truthful and expose un-American practices.” He added, “I hope it benefits even one person in the future; the justice system is delicate but crucial.”

This development marks a contentious chapter in the broader narrative surrounding FTX and its legal entanglements.

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About the Author: Eunji Lim

Eunji lim

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