FBI Raids House of Former Co-CEO of FTX’s Bahamas Subsidiary

• On April 27th, the FBI conducted a raid on Salame’s home in Potomac, Maryland.
• Salame joined in 2021 as the chief executive officer of FTX Digital Marketing.

Ryan Salame, the ex-CEO of FTX’s Bahamian subsidiary, allegedly had his house inspected by the FBI. The massive downfall of the once-prominent crypto behemoth has been followed by many months before the raid.

Authorities, prosecutors, and disgruntled investors all say the exchange cheated its clients out of money, and they want the top brass behind it severely punished.

The former CEO of FTX, Sam Bankman-Fried (SBF), was detained in a Bahamian prison for a short period of time before being deported to the United States. He is awaiting trial at the beginning of October and is now staying at his parents’ residence in California with limited outside access.

John Ray III Handling Affairs

On April 27th, the FBI conducted a raid on Salame’s home in Potomac, Maryland. However, the operation’s justification has not been revealed. Salame joined the defunct crypto giant in 2021 as the chief executive officer of FTX Digital Marketing. It is the exchange’s Bahamas-based subsidiary.

In the 2022 election season, SBF reportedly gave over $40 million, mostly to Democrats. After the collapse of FTX in November 2022 resulted in multi-billion investor losses, the exchange’s former CEO is facing serious charges, including wire fraud, conspiracy, and money laundering. He faces life in prison if he is proven guilty in the next trial in October 2023.

The FTX collapse rattled the crypto sector, bringing the wrath of regulators across the globe. Moreover, several crypto firms went bankrupt due to the chain of domino effect caused by the collapse. John Ray III is now handling affairs at FTX post-bankruptcy filing and is trying to recover as much funds as possible.

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