Former FTX executive Ryan Salame pleaded guilty on Thursday afternoon to violating campaign finance law and to a conspiracy to operate an unlicensed money transmission business, the U.S. Attorney for the Southern District of New York said.

Ryan Salame, former co-CEO of FTX, also agreed to forfeit more than $1.5B, according to media reports. He was released on $1M bond and faces up to 10 years in prison, CNBC reported. His sentencing hearing is scheduled for March 6.

"Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money-transmitting business," Damian Williams, U.S. Attorney for the Southern District of New York, said in a statement.

The latest guilty plea follows two others who pled guilty in December. Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, an FTX co-founder and former chief technology officer, were cooperating with the SDNY U.S. Attorney's office in the investigation of FTX's collapse.

In August, a U.S. district court judge revoked Sam Bankman-Fried's bail package.