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Former FTX Digital Markets co-chief executive Ryan Salame has agreed to transfer his multimillion-dollar property in the Bamas as part of a plea agreement in his case.
Instead of paying the restitution amount in cash, Salame proposes to satisfy the debt by transferring the legal title of the residence to FTX Digital Markets Ltd. Under the stipulation, Salame must take all the necessary steps to transfer the legal title of the residence to FTX DM. Once the legal title is transferred, the restitution amount will be deemed satisfied.
The difference of $306,822.09 between the appraised value and the restitution amount will be credited against the amount Salame owes the debtors on the promissory note.a property in September 2021 for $7.2 million. The initial 10% deposit was wired from an Alameda Research account at Silvergate Bank.
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