The ongoing saga of the FTX cryptocurrency exchange collapse has taken another dramatic turn as former executive Ryan Salame finds himself back in the spotlight. Scheduled to appear before Judge Lewis Kaplan on Thursday, Salame faces tough questions about the behind-the-scenes negotiations that led to his controversial plea deal.
Reports claim the agreement, which resulted in a 7.5-year prison sentence, is now under intense scrutiny. He now faces allegations of prosecutorial misconduct casting a shadow over the FTX proceedings.
Salame’s Attorneys Dropped Bombshell in FTX Case Filing
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Salame’s attorneys dropped a bombshell in their court filing. The prosecutors, they claim, promised to halt their investigation into Michelle Bond’s campaign finance activities if Salame agreed to plead guilty.
Bond, a former SEC lawyer, and Salame’s partner found herself indicted in August on campaign finance charges related to her unsuccessful 2022 Congressional bid. The timing of this indictment, came just a day after Salame’s request to void his plea.
Adding another layer of complexity to the situation is Salame’s abrupt about-face. Within days of filing the petition to vacate his guilty verdict, he submitted a motion to withdraw that very request. This rapid reversal has left many wondering about the motivations behind these legal maneuvers.
Judge Kaplan has made it clear that Salame’s presence at the hearing is non-negotiable, making it a condition of his bail.
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Also Read: eToro Settles SEC Lawsuit; Agrees to Limit US Crypto Trading
