TechFlow news, according to CoinDesk, former FTX executive Ryan Salame has pleaded guilty to federal criminal charges related to the collapse of the exchange.
Salame admitted to two counts: conspiracy to make illegal campaign contributions and defraud the Federal Election Commission, and conspiracy to operate an unlicensed money transmitting business.
As part of his plea agreement with the government, Salame is required to forfeit over $1.5 billion in assets and has agreed to pay $6 million by the time of his sentencing in March next year.
To satisfy this payment, Salame has already agreed to provide the government with a "2021 Porsche vehicle" and multiple properties, including two residential homes in Massachusetts, as well as ownership of his East Rood Farm company. Additionally, Salame is required to pay over $5.5 million in restitution to the FTX debtors.
