Former top FTX employee Ryan Salame, a generous Republican fundraiser, is under increasing legal pressure because of his role in Sam Bankman-Fried‘s corporate empire.
The F.B.I. conducted a search at Ryan Salame’s Potomac, Maryland, residence on Thursday morning. Salame is a former FTX executive who contributed significantly to Republican political candidates’ campaigns.
Before the company filed for bankruptcy in November, Mr. Salame, who oversaw FTX’s Bahamian subsidiary, was a close adviser to Sam Bankman-Fried, the exchange’s founder.
Mr. Bankman-Fried has been accused by federal authorities of planning a significant fraud and unlawful campaign fundraising scheme at FTX. He has promised to contest the allegations. In conjunction with the inquiry, three of his former senior executives entered guilty pleas and consented to help the government bring charges against their former boss.
Due to his $24 million in political donations made during the 2014 midterm elections, Mr. Salame has drawn a lot of attention. Federal investigators asserted in court documents that the majority of the $90 million donated to political campaigns by a few former FTX employees, including Mr. Salame, had been stolen from the exchange’s users.
As they get ready for Mr. Bankman-Fried’s trial in October, federal officials are still looking into the collapse of FTX, as seen by the search of Mr. Salame’s $4 million home. A wide range of employees and advisers in the former crypto mogul’s sphere of influence are being investigated, including Mr. Bankman-Fried’s younger brother.
