Federal prosecutors have charged Michelle Bond, the partner of former FTX executive Ryan Salame, with violating US campaign finance laws. The indictment, revealed on August 22 by the US District Court for the Southern District of New York, outlines charges against Bond, including conspiracy to facilitate illegal campaign contributions, accepting excessive donations, and orchestrating corporate and conduit contributions.
US Attorney Damian Williams alleges that Bond, who unsuccessfully ran for Congress in New York in 2022, illegally funded her political campaign with the help of an unnamed co-conspirator. The indictment details how Bond’s partner, described as a “high-level executive at a now-defunct cryptocurrency exchange,” allegedly paid $400,000 to support her campaign, hinting at Salame’s involvement.
Prosecutors further allege that Bond provided false information to a congressional committee and the Federal Election Commission to cover up these activities. Attorney Williams emphasized the importance of holding elected officials and candidates accountable if they break the law, stating that misconduct undermines public trust in American elections.
Salame pleaded guilty to violating campaign finance laws and running an unlicensed money-transmitting business on September 7, 2023, and was sentenced to 7.5 years. However, just before the indictment against Bond was unsealed, Salame’s legal team filed a motion to withdraw his guilty plea, citing a verbal agreement with prosecutors that Bond would not be charged.
These new developments add to the legal repercussions from the FTX collapse, with former FTX CEO Sam Bankman-Fried already sentenced to 25 years in prison and currently appealing the decision. As the case continues to unfold, the impact on the cryptocurrency industry and the individuals involved remains to be seen.
