The Block Crypto News7 minutes ago

Published on May 22, 2024 06:30 GMT+00:00edited on May 22, 2024 06:34 GMT+00:00

U.S. prosecutors are suggesting an imprisonment term of five to seven years for former FTX executive Ryan Salame, who pleaded guilty to criminal charges last September.

Salame’s lawyers have urged the court to hand out a lenient sentence of no more than 18 months in prison, but prosecutors noted in a sentencing memo released Tuesday that a substantial term of incarceration — well above the 18 months’ imprisonment Salame requested — is required.

“The defendant’s assertion that his crimes were intended only to help FTX and the cryptocurrency industry more generally are not mitigating and also belied by the evidence, which indicates that the defendant personally benefited in numerous ways from his criminal actions,” the prosecutors wrote. 

“Only a substantial incarceratory sentence …