Ryan Salame, the former head of the Bahamas division of the cryptocurrency exchange FTX, has arrived at the federal prison in Cumberland, Maryland, to begin serving his sentence, according to The Block.

Salame was sentenced by the Southern District of New York court to 90 months (7.5 years) in prison for conspiring to make illegal donations and operating an unlicensed money transfer business. In addition to his prison term, the former executive is required to pay $6 million in forfeiture and over $5 million in restitution.

Delay Due to Injury

In July, the court allowed Salame to delay the start of his sentence to October 13 due to the need for surgery following a bite from a German Shepherd, which prevented him from reporting to prison on August 29 as originally scheduled.

Guilty Plea and Sentence

In September 2023, Salame pled guilty to charges related to the collapse of FTX. His defense attorneys requested a sentence of 1.5 years, but the court imposed a harsher penalty. Just before FTX’s bankruptcy in November 2022, Salame had warned Bahamian authorities about potential fraud at the exchange.

Fate of Other FTX Executives

Other high-ranking FTX employees have also pled guilty: Caroline Ellison, Gary Wang, and Nishad Singh. FTX co-founder and former CEO Sam Bankman-Fried (SBF) was found guilty in November 2023 and sentenced to 25 years in prison in March 2024. SBF’s legal team has filed an appeal.