Former FTX executive Ryan Salame gets more time out of prison to recover from dog attack

Former FTX executive Ryan Salame gets more time out of prison to recover from dog attack

News | August 14, 2024 br>
By: Olav Sorensen

On Tuesday, July 30, 2024, a federal district court in New York granted former FTX Digital Markets Ltd. chief executive Ryan Salame 45 days of probation to begin serving his 90-month prison sentence. Salame, who pleaded guilty last year to campaign finance fraud and conspiracy to operate an unlicensed money transmission business, was originally scheduled to turn himself in on August 29 to begin serving his sentence imposed in May by U.S. District Judge Lewis A. Kaplan.

In late June, however, Salame claimed he was injured in a dog attack. He was “attacked by a German Shepherd while visiting a friend's house.” Salame said he needed to have treatment for his injuries and surgery before he could go to prison. To allow for medical care, Salame's attorney, Gina Marie Parlovecchio, filed a motion with Judge Kaplan to delay his client's transfer date.

In support of the motion, a redacted medical certificate outlining Salame's need for treatment was submitted to the court. Legal experts said it is common for defendants who require medical care to try to obtain it before beginning incarceration, as medical options are more limited in prison. Judge Kaplan approved postponing Salame's report date by 45 days to Oct. 13 after reviewing the evidence presented about his reason for the delay.

The decision to grant Salame an adjournment appeared routine, said Mark Bini, a partner at Reed Smith and a former prosecutor who is not involved in the case. Salame pleaded guilty in September to unlawfully attempting to influence the U.S. election through campaign contributions and operating an unlicensed digital currency business.

His charges relate to the collapse of major cryptocurrency exchange FTX in November 2022. Salame is the first former executive from FTX CEO Sam Bankman-Fried's inner circle to be convicted while the legal fallout from the company's implosion is still ongoing. Former FTX chief technology officer Gary Wang and head of quantitative research Nishad Singh face sentencing hearings in the coming months.

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