Former FTX executive Ryan Salame has expressed remorse and is seeking an 18-month sentence in exchange for cooperating with authorities.

Ryan Salame, a former FTX executive, who pleaded guilty to election fraud charges in September, has requested leniency from the court with an 18-month sentence. His attorneys argue for a lighter sentence, citing his cooperation with authorities and genuine remorse. During his time at FTX and Alameda, Salame was responsible for managing wire deposits and fiat currency conversions for customers. He was also involved in political contributions using Alameda funds and charitable initiatives in the Bahamas.In the filings, Salame’s attorneys emphasized that his role in the fraudulent activities was more operational than central. They claimed he had no knowledge of the conspiracies orchestrated by individuals at the heart of Alameda and FTX. Additionally, Salame did not steal from anyone or deceive customers. He reported the fraud to authorities in the Bahamas shortly after discovering it.His attorneys also addressed the negative media scrutiny surrounding FTX and its CEO, Sam Bankman-Fried, arguing that the constant criticism has already served as punishment for Salame. Caroline Ellison and Gary Wang, former executives of Alameda-FTX, have also pleaded guilty to charges and are seeking plea deals to avoid imprisonment.The court will consider Salame’s sentencing memorandum alongside other relevant factors before determining his sentence.Last month, Bankman-Fried filed to appeal his conviction and sentence for fraud and conspiracy charges. The disgraced crypto boss was convicted in November following a month-long trial and sentenced to 25 years in prison.The FTX bankruptcy estate has outlined its target to initiate repayments to customers by the end of 2024. The bankruptcy consists of two distinct processes: the Chapter 11 bankruptcy overseen by a Delaware court in the US and the official liquidation of FTX Digital, the Bahamas-based subsidiary of FTX. Both entities have agreed to collaborate, allowing creditors to submit their claims to either party while ensuring that no creditor receives less than their rightful value.