Where is Berkshire Native Ryan Salame Now After FTX Conviction?

Ryan Salame, the 33-year-old Sandisfield native who once owned some of Lenox's restaurant scene, is now serving a 7.5-year federal prison sentence at FCI Cumberland in Maryland for his role in the FTX cryptocurrency collapse.

Salame grew up in Sandisfield and graduated from Monument Mountain Regional High School in Great Barrington. After earning degrees from UMass Amherst and Georgetown University, he rose to become co-CEO of FTX Digital Markets, the Bahamas-based subsidiary of the now-defunct crypto exchange.

At his peak, Salame owned approximately six properties in Lenox, primarily restaurants and commercial real estate. His holdings included the popular Olde Heritage Tavern and multiple downtown restaurants, all managed through various limited liability corporations.

Current co-owner of the Heritage Tavern, Becky Piccolo, recently purchased the building from Anne Selke who bought the property at auction when Salame lost it.

In April 2024, the Heritage building was seized by the U.S. Marshals Service from Ryan Salame of Sandisfield, who had owned multiple properties in downtown Lenox as the former FTX Digital Markets co-CEO. -berkshireeagle.com

He invested over $6 million in Lenox restaurants and real estate, becoming a significant presence in the local business community. He also owned two houses in his hometown of Sandisfield.

When FTX collapsed in November 2022, it was revealed the company had loaned Salame $55 million. In September 2023, he pleaded guilty to violating campaign finance laws and operating an illegal money-transmitting business. He was the first of Sam Bankman-Fried's inner circle to receive prison time.

Salame began serving his sentence in October 2024 at FCI Cumberland, a medium-security federal prison in Maryland. His release date has recently been moved up to March 2031 due to good behavior credits, one year earlier than originally scheduled. -ccn.com

To raise the required $6 million in forfeiture funds and over $5 million in restitution, Salame sold off his Lenox holdings for approximately $5.4 million—less than the $7.5 million he had invested in the properties.