US prosecutors recommend 5 to 7 years in prison for former FTX executive Ryan Salame

Bloomberg reported that former FTX executive Ryan Salame should be sentenced to 5 to 7 years in prison, according to US prosecutors. In a sentencing memorandum submitted to the Manhattan federal court on Tuesday, federal prosecutors said Salame admitted to "committing serious crimes that require a substantial sentence to ensure that Salame is fairly punished." His lawyer argued that his sentence should not exceed 18 months. Prosecutors wrote: "Illegal campaign funding is one of the largest illegal activities in US history, and unauthorized fund transfer transactions have traded more than $1 billion without proper regulation." Salame will be sentenced on May 28, and core members of the opposing SBF group-Caroline Ellison, Nishad Singh, and Gary Wang-have not yet been sentenced.