Former FTX exec Salame to plead the fifth about campaign finance schemes

Quick Take

  • Former FTX executive Ryan Salame plans not to testify under oath about Sam Bankman-Friend’s alleged illegal campaign donations.

Former FTX executive Ryan Salame plans not to testify at Sam Bankman-Fried's criminal trial regarding alleged illegal campaign donation schemes.

An Aug. 14 motion filed by U.S. federal prosecutors says Salame will be unavailable to testify as a witness.

"Salame is unavailable as a witness," the filing states, adding in a footnote: "Salame's attorney has represented that if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination."

Court papers and Federal Elections Commission data indicate that both Nishad Singh and Salame may have been involved in fraud and campaign finance violations in February. Salame reportedly gave more than $24 million to Republican candidates and causes last election cycle but was not charged with a crime. He is currently in talks with federal prosecutors to plead guilty to charges.

According to prosecutors, Salame told a family member in November 2021 that Bankman-Fried wanted to "weed out" anti-crypto lawmakers through political donations that Salame himself would help to distribute.

This article has been updated with additional information for clarification.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

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