Former FTX executive Ryan Salame will reportedly refrain from testifying about his role in FTX’s alleged illegal campaign donation scheme if he is subpoenaed in Sam Bankman-Fried’s criminal trial.
Lawyers representing the former co-CEO of FTX said Salame will not be a witness in the case, according to U.S. Attorneys filed the motion on Aug. 14.
“Salam’s attorneys indicated that if subpoenaed, Salam would invoke the Fifth Amendment right against self-incrimination,” the prosecutor’s motion states, adding that Salam would “be unable to appear as a witness.”
From US government’s motion to restrain in Sam Bankman-Fried criminal trial: “(Ryan) Salam cannot be a witness … Salam’s attorney says if subpoenaed, Salam will invoke the Fifth Amendment against self-incrimination rights.” pic.twitter.com/NrB5d6PJDH
— Molly White (@molly0xFFF) August 15, 2023
Salame is the former co-CEO of FTX Digital Markets and is close to Sam Bankman-Fried, donated More than $24 million was given to Republican campaigns, according to Open Secrets.
The former FTX executive himself is reportedly facing charges of possible financial campaign conduct violations and is considering a plea deal with federal prosecutors.
He was the primary beneficiary of loans and payments made to some of FTX’s executives through the now-bankrupt company’s trading arm, Alameda Research.
related: Alternative indictment against Sam Bankman-Fried includes use of $100 million for campaign contributions
In April, the FBI raided Salam’s house. However, it’s unclear what exactly they were looking for.
He is believed to be a close business associate of Bankman-Fried, who is currently in jail and faces fraud charges in an upcoming trial in October.
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