Federal prosecutors have charged Michelle Bond, the partner of former FTX executive Ryan Salame, with violating US campaign finance laws.
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, revealed on August 22 by the US District Court for the Southern District of New York, outlines charges against Bond, which include conspiracy to facilitate illegal campaign contributions, accepting excessive donations, and orchestrating corporate and conduit contributions.
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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. While the document does not explicitly name Salame, the description suggests his involvement.
The prosecutors further allege that Bond provided false information to a congressional committee and the Federal Election Commission to cover up these activities.
Attorney Williams commented:
Misconduct by those campaigning for public office undermines public trust in American elections and in representative government more broadly. This Office is committed to holding elected officials and candidates accountable if they break the law.
Salame pleaded guilty to violating campaign finance laws and running an unlicensed money-transmitting business on September 7, 2023. He was sentenced to 7.5 years and is set to begin his sentence in October.
However, just before the indictment against Bond was unsealed, Salame’s legal team filed a motion to withdraw his guilty plea. They argue that there was a verbal agreement with prosecutors that Bond would not be charged, noting that Salame is concerned about the impact on their family, as he and Bond share a nine-month-old child.
With these new developments, the legal repercussions from the FTX collapse continue to unfold.
Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison this March and is currently appealing the decision.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
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