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Fourth FTX exec pleads guilty, agrees to forfeit $1.5 billion

Ryan SalameRyan Salame (attribution)
Former CEO of FTX's Bahamian entity, Ryan Salame, has pleaded guilty to two criminal charges in the ongoing case against FTX and founder Sam Bankman-Fried. Salame (pronounced "Salem") is the fourth exec to plead guilty, following pleas from Caroline Ellison and Gary Wang in December 2022, and another from Nishad Singh in February 2023.

As part of the deal, Salame has agreed to forfeit $1.5 billion. He will also pay $5.6 million restitution to FTX debtors and $6 million to the U.S. government, and will forfeit two homes in the Berkshires and a 2021 Porsche 911. According to the New York Times, he is not cooperating with the investigation.

Salame's sentencing is scheduled for March 2024.

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