The home of Ryan Salame, former CEO of FTX’s Bahamian subsidiary, was reportedly searched by the US Federal Bureau of Investigation (FBI).
The search took place several months after the once-prominent crypto giant collapsed amidst allegations of fraud against its customers from various agencies, prosecutors, and investors.
Sam Bankman-Fried (SBF), former CEO of FTX, was briefly jailed in the Bahamas before being extradited to the US. He is currently awaiting trial at the start of October while living at his parents’ home in California.
- On April 27, the FBI reportedly searched Salame’s home in Potomac, Maryland, without clear indication of the operation’s purpose.
- Salame joined the crypto behemoth in 2021 to lead FTX Digital Marketing, the Bahamas-based partner of the exchange.
- Last year, Salame informed regulators of the island nation that FTX may have mismanaged billions of dollars in clients’ funds, transferring them to Alameda Research and becoming a central figure in the scandal.
- Salame made headlines by donating over $23 million to Republican candidates and political action committees, while SBF purportedly contributed around $40 million in political donations during the 2022 election cycle, mostly to Democrats.
- Following the exchange’s collapse in November 2022, the former leader of FTX is facing severe charges, including wire fraud, conspiracy, and money laundering that caused multi-billion losses for investors.
- A guilty verdict during the October 2023 trial could result in a life sentence for SBF.