A jailed executive from FTX has recently decided to withdraw his request for the government to follow through with a plea deal. This move comes amid ongoing legal challenges and could have significant implications for his case. In this article, we'll explore the reasons behind his decision and what it might mean for the future of his legal battle.
Jailed FTX Exec Drops Bid to Enforce Plea Deal
Ryan Salame, the former FTX executive who was sentenced to 7.5 years in prison in May, has retracted his request to a New York court. He had initially sought to enforce the terms of his plea agreement or have it annulled, along with the cancellation of his sentence.
Recently, Salame's legal team submitted a petition alleging that his guilty plea was improperly obtained. They argued that prosecutors coerced him into pleading guilty by promising to end their investigation into Michelle Bond, Salame’s partner and mother of his child.
Even though Salame has withdrawn his request, Judge Lewis Kaplan has decided to proceed with a hearing on the original petition. The judge has also stipulated that Salame must attend this hearing as part of his bail conditions.
Salame Withdraws Petition Amid Bond's Indictment for Campaign Finance Violations
Salame’s petition was filed just one day before the charges against Bond were publicly disclosed. Bond, who previously worked as an SEC lawyer and led a crypto advocacy organization in Washington, D.C., was indicted on August 22 for allegedly accepting illegal campaign donations from Salame and other FTX employees during her failed 2022 bid for Congress.
In the petition, Salame's lawyers accused prosecutors of pressuring Bond during plea discussions, hinting that they would "halt their investigation into Bond if Salame agreed to plead guilty."
With Bond now facing indictment, Salame has decided to shift his stance.
“Mr. Salame is withdrawing the Petition to allow Ms. Bond to address the issue in her own case,” his attorneys stated in the updated court filings. “Mr. Salame maintains the validity of the claims in the Petition and his accompanying statement but is withdrawing it to enable Ms. Bond to present the facts and seek a resolution in her case.”
The lawyers further explained that, as the main goal of the Petition was to dismiss the charges against Bond, it is more appropriate for these issues to be handled in the context of Bond’s own legal proceedings.
Bond appeared before a magistrate judge in the Southern District of New York on August 22 and was released on a $1 million bond. She faces four charges related to alleged campaign finance violations: conspiracy to make illegal political contributions, accepting excessive campaign donations, receiving unlawful corporate contributions, and facilitating conduit contributions. Each charge carries a potential maximum sentence of five years if she is convicted.
