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Former Bankman-Fried lieutenant Salame pleads guilty to illegal campaign contributions

Premium September 8, 2023

CRYPTO MARKET: The value of crypto assets have begun to bounce bank one year on from the arrest and charging of crypto darling and industrial fraudster Sam Bankman-Fried.

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NEWS: Half of Russia’s payments to China made through middlemen, sources say

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REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

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NEWS: France, Ireland and Latvia called out by EU for AML failures

By Luc Cohen and Jody Godoy

Ryan Salame, the former co-CEO of FTX’s Bahamian subsidiary and a top lieutenant to the bankrupt cryptocurrency exchange’s founder, Sam Bankman-Fried, pleaded guilty on Thursday to making tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss.

In court filings on Thursday, prosecutors said Salame, Bankman-Fried and former FTX engineering chief Nishad Singh used FTX customer funds to donate to political candidates supporting crypto-friendly legislation.

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NEWS: Half of Russia’s payments to China made through middlemen, sources say

 Premium

REGULATORY INTELLIGENCE: Everything you need to know about Europe’s new AML laws and the Authority (AMLA) – all in one place

 Premium

NEWS: France, Ireland and Latvia called out by EU for AML failures

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