Former FTX Digital Markets co-CEO Ryan Salame is facing serious allegations from U.S. prosecutors, connecting him to a bribery scheme involving Alameda Research in China. Recent court filings have shed light on these claims, suggesting Salame played a role in efforts to unfreeze accounts tied to both FTX and Alameda Research.
Prosecutors Oppose Salame’s Motion to Vacate Guilty Plea
On September 5, in the U.S. District Court for the Southern District of New York, prosecutors filed a memorandum opposing Salame’s attempt to withdraw his guilty plea related to campaign finance violations. Although Salame had already retracted his petition on August 29, Judge Lewis Kaplan scheduled a hearing for September 12 to address the matter.
The prosecutors did not hold back in their memorandum, describing Salame’s petition as “shameless and self-serving” as well as “procedurally defective and factually and legally meritless.” They criticized him for attempting to evade responsibility after initially accepting full accountability for his actions.
Allegations of Involvement in Bribery Scheme
The September 5 filing also unveiled notes from an April 2023 video conference call with Assistant U.S. Attorneys. These notes reference former FTX CEO Sam Bankman-Fried’s alleged bribery of Chinese officials to unfreeze Alameda’s funds locked in local exchanges. Prosecutors claim that Salame was involved by opening accounts under the names of Thai nationals to facilitate the scheme.
Assistant U.S. Attorney Danielle Sassoon stated, “We have evidence that [Salame] was involved in efforts to unfreeze the accounts, including by opening crypto accounts to enable self-trading.”
Connection to Michelle Bond and Ongoing Legal Issues
Salame’s partner, Michelle Bond, who ran for a U.S. House seat in 2022, is also under scrutiny. She faces four charges related to campaign finance law violations. Salame indicated his intention to bring up his plea deal in her criminal case. Both Salame and Bond were out on bail at the time of the latest filings.
In September 2023, Salame pleaded guilty to charges of conspiracy to operate an unlicensed money-transmitting business and campaign finance fraud. A federal judge sentenced him to 90 months in prison, and he is scheduled to begin his sentence on October 13.
