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Crime and Investigations

FBI Raids Former FTX Executive in Cryptocurrency Fraud Investigation

FBI Raids Former FTX Executive in Cryptocurrency Fraud Investigation

According to two sources familiar with the matter, the FBI searched Ryan Salame's residence in Potomac, MD, on Thursday.

Salame, a former executive at FTX, had made substantial contributions to Republican political candidates. He was closely associated with Sam Bankman-Fried, FTX’s founder before the company filed for bankruptcy in November.

Federal prosecutors have charged Bankman-Fried with orchestrating a fraudulent and illegal campaign finance scheme at FTX. Several former FTX executives, including three top executives, have pleaded guilty and agreed to testify against Bankman-Fried.

Salame has been under investigation for the $24 million he donated to political candidates during the 2022 midterm elections.

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The bureau’s search of Salame’s $4 million house indicates that their investigation into FTX’s collapse is ongoing as Bankman-Fried’s trial approaches in October.

The FBI is investigating several employees and advisers in Bankman-Fried’s circle, including his younger brother. It is unclear what the FBI was looking for during the search.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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