In a significant development within the bankruptcy proceedings involving the defunct exchange FTX and its debtors, Ryan Salame, former co-chief executive of the company, has agreed to forfeit his $5.9 million Bahamas property as part of a plea deal in a criminal case.
This decision follows Salame’s guilty plea in September 2023, where he pleaded guilty to criminal charges and agreed to pay $5.6 million in restitution to the debtors.
According to a motion filed at the United States Bankruptcy Court for the District of Delaware by FTX Trading Ltd and affiliated debtors, Salame has committed to honoring the plea deal by transferring the property’s ownership to the debtors.
