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.
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.