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.
According to US Attorney Damian Williams, Bond allegedly 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 for breaking the law to maintain public trust in American elections.
Salame had previously pleaded guilty to violating campaign finance laws and running an unlicensed money-transmitting business, receiving a 7.5-year sentence set to begin in October. However, his legal team filed a motion to withdraw his guilty plea just before Bond’s indictment was unsealed, citing a verbal agreement with prosecutors that Bond would not be charged.
These developments add to the legal repercussions stemming 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 remains to be seen.
