As part of his plea agreement with the government, Salame has been ordered to forfeit more than $1.5 billion dollars. He agreed to forfeit $6 million before his sentencing, expected in March of next year. To help cover this amount, Salame has already agreed to give the government a “2021 Porsche automobile” and multiple properties, including two Massachusetts homes and ownership of the East Rood Farm Corporation, an entity Salame owns. Should Salame pay the $6 million and turn over the various properties by the set deadlines – referred to as the substitute assets – he will be off the hook for the full amount, a DOJ filing said.
Source: https://www.coindesk.com/policy/2023/09/07/ex-ftx-executive-ryan-salame-pleads-guilty-to-us-criminal-charges/?utm_medium=referral&utm_source=rss&utm_campaign=headlines