Ryan Salame, a high-ranking executive of the defunct cryptocurrency empire FTX, has been sentenced to 7.5 years in prison by a US judge. Judge Lewis A. Kaplan delivered the sentence on Tuesday after Salame pleaded guilty to charges of conspiracy related to unlawful political contributions and defrauding the Federal Election Commission, as well as conspiracy to operate an unlicensed money-transmitting business. Salame, who previously served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of the bankrupt crypto exchange, is also the founder of the American Dream Federal Action Political Action Committee (PAC).

The 30-year-old is accused of taking part in a scheme that utilized FTX, Alameda Research, and an entity called “North Dimension” to transmit FTX customer funds without the necessary license. Salame, along with FTX founder Sam Bankman-Fried and FTX executive Nishad Singh, is also alleged to have made over 300 unlawful political contributions totaling tens of millions of dollars. These contributions were intended to enhance FTX’s reputation and gain favor with candidates who could potentially influence legislation in favor of the exchange.

According to U.S. Attorney Damian Williams, “Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law. Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system. Today’s sentence emphasizes the significant consequences for such offenses.”

In addition to the prison sentence, Salame has been given three years of supervised release and has been ordered to pay over $6 million in forfeiture and more than $5 million in restitution.

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