Former FTX exec Ryan Salame's sentencing set for May 28

Former FTX executive Ryan Salame will be sentenced on May 28 in a New York courtroom after pleading guilty to criminal charges.

Salame's sentencing will begin at 11 a.m. in front of Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York, according to an update on the court docket on Tuesday.

Salame pled guilty in September to conspiracy to making unlawful political contributions as well as conspiracy to operating an unlicensed money-transmitting business. Salame's sentencing was originally set for May 1.

Prosecutors have said Salame and co-conspirators made over 300 political donations in the "tens of millions of dollars," which was unlawful because they were made in the name of a straw donor or with corporate funds. A straw donor is someone who illegally uses someone else's money to make a political contribution in their own name.

Former Alameda Research CEO Caroline Ellison, FTX Co-Founder Gary Wang and FTX's former Engineering Director Nishad Singh have also all pleaded guilty.

Former FTX CEO Sam Bankman-Fried was sentenced last month to almost 25 years in prison following a criminal fraud trial that took place late last year. Judge Kaplan accused Bankman-Fried of committing perjury during his trial and said the former top exec knew what he was doing was wrong.