FTX executive Ryan Salame has made a significant decision regarding his guilty plea in light of recent developments. Salame, the former Co-CEO of FTX Digital Markets, withdrew his petition to vacate his guilty plea on criminal charges related to FTX on August 29. This move comes after his partner, Michelle Bond, was indicted, prompting a change in his legal strategy.
Reversal of Guilty Plea Petition
Initially, Salame sought to reverse his plea following news of Bond's investigation by federal prosecutors for campaign finance violations in connection to her congressional campaign. Salame had agreed to plead guilty on the condition that no further scrutiny would be directed towards Bond, who is also the mother of their child.
In a filing with the United States Southern District of New York, Salame's lawyers stated that he will no longer pursue the vacation of his guilty plea after Bond's indictment on August 22. This decision marks a significant turning point in Salame's legal battle.
The court filing indicated, "Mr. Salame is withdrawing the petition so that Ms. Bond may raise the matter in her proceeding. To be clear, Mr. Salame stands by the facts set forth in the petition and accompanying declaration. Mr. Salame is withdrawing the petition, however, to allow the facts to be developed by Ms. Bond."
Ryan Salame and Michelle Bond's Legal Challenges
This development adds another layer to the legal saga stemming from Salame's connection to the fraudulent crypto exchange linked to Sam Bankman-Fried. Last month, Salame received an extension on his prison surrender date due to injuries sustained from a dog attack that required medical treatment and surgery.
In a social media post on June 29, Salame shared, "Got bit in the face by a dog (my fault, not the dog’s) and all I can think is I hope this surgeon isn’t a democrat who knows I’m a republican." This incident delayed his impending prison sentence.
Salame's decision not to cooperate with U.S. prosecutors during the trial involving the digital asset scheme contributed to his 7.5-year federal prison sentence in May. His stance on the trial and the legislative process has sparked discussions within the crypto community.
In a recent post, Salame expressed his concerns, stating, "People lied in SBFs trial (doesn’t mean he’s innocent but truly problematic). You aren’t aware [of] how corrupt the legislative process is (more to come)." He is scheduled to begin serving his prison term on October 13.
