Michelle Bond, the partner of former FTX executive Ryan Salame, has been charged with violating US campaign finance laws, according to an unsealed indictment.
Former congressional candidate Michelle Bond was accused to fund his failed 2022 New York House campaign with money from an unspecified cryptocurrency exchange based in the Bahamas.
According to the declassified document seen on August 22, Damian Williams, the US attorney for the Southern District of New York, argued that Bond injected at least $400,000 of illegal money into his candidacy from a “disgraceful consulting agreement.”
Bond was already involved with Salame at the time and worked for cryptocurrency exchange FTX. The company, founded by imprisoned Cryptocurrency mogul Sam Bankman-Fried was based in the Bahamas and was accused of similar campaign law violations.
Federal prosecutors say Bond admitted the exchange’s role in funding his campaign during a Trade Group board meeting. Acting FBI Assistant Director Christia M. Curtis added that Bond intentionally misled Congress about the source of the funds and used other tactics to cover his tracks.
FTX Salami in a Protracted Litigation
The charges against Bond became public shortly after Salame accused the government of reneging on a plea agreement. The agreement, according to Salame, included his guilty plea and a promise to stop any investigation into Bond.
Salame pleaded guilty to conspiracy in September 2023, around the time of the Bankman-Fried trial, and was sentenced to seven and a half years in prison. He now intends to challenge his sentence or ask that the charges against Bond be dismissed.
The Federal Reserve criticizes Salame
In response, prosecutors cited Salame’s post-sentencing social media statements as a “complete lack of remorse” because of the complex U.S. legal system.
Salame had posted tweets accusing fellow FTX executives Caroline Ellison and Nishad Singh of lying to get better plea deals from the government. On August 21, prosecutors highlighted these posts and said they showed no remorse for their actions.
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