Ex-Ripple Executive Faces Campaign Finance Fraud Charges

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Charges Against Michelle Bond
  2. Salame's Requests for Government Deal
  3. Salame's Fate After Charges


    4. Michelle Bond, a former Ripple executive and ex-candidate for the U.S. Congress, is charged with violating campaign finance laws. The case details include false testimonies and funding from a cryptocurrency exchange.

    Charges Against Michelle Bond

    Michelle Bond, partner of former FTX executive Ryan Salame, lost the 2022 Republican primary for a New York congressional seat. She is accused of taking about $400,000 from the cryptocurrency exchange where her partner served as an executive to fund her political campaign, violating corporate contribution laws. During her campaign to represent New York’s 1st Congressional District in May 2022, Bond falsely testified about the source of the funds to the House Ethics Committee and the Federal Election Commission.

    Salame's Requests for Government Deal

    Ryan Salame recently claimed that prosecutors failed to honor a deal to drop any investigations of Bond if he agreed to plead guilty. Salame stated, 'A significant factor in my accepting the plea was the understanding that the government would not pursue campaign-finance charges against Bond.' In response, prosecutors described his claims as false. An anonymous source confirmed that prosecutors never offered Salame a cooperation deal. Salame pleaded guilty to making millions of dollars in unlawful campaign contributions aimed at boosting causes endorsed by FTX founder Sam Bankman-Fried.

    Salame's Fate After Charges

    Following the collapse of FTX, Salame received a 7.5-year prison sentence, while Bankman-Fried was sentenced to 25 years. Bond, former Global Head of Government Relations at Ripple Labs, is facing four criminal charges. The Department of Justice accuses her of causing and accepting unlawful contributions and causing and receiving a straw contribution. It remains unclear if her sentence will be as harsh as Salame's or Bankman-Fried's or if she will secure a more lenient plea deal. It’s worth noting that Salame may delay his prison term due to injuries sustained from a dog attack, with his surrender date moved to October 13.

    Currently, Michelle Bond and her partner Ryan Salame are under investigation for various campaign finance violations. The outcome of these cases could significantly impact both the political and cryptocurrency industries.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Colombian Crypto Broker Sentenced to 160 Months for Money Laundering

Colombian crypto broker Leonardo de Jesus Zuluaga Duque sentenced to 160 months for laundering $145 million in drug proceeds through cryptocurrency.

user avatarKaterina Papadopoulou

Birdeye Unveils Peak, a New Terminal for Institutional Crypto Research

Birdeye has launched Peak, a new terminal aimed at institutional crypto researchers, consolidating various data and analysis services into one professional workspace.

user avatarMaya Lundqvist

Google Implements New Advertising Policy for Crypto Providers in UAE

Google has announced new licensing and certification requirements for crypto exchanges and software wallet providers targeting customers in the United Arab Emirates.

user avatarLeo van der Veen

Meta's Board Approves New Class of Nonvoting Stock

Meta's board has approved the creation of Class C nonvoting shares to be distributed to existing Class A and Class B shareholders, effective January 19, 2027.

user avatarLi Weicheng

Meta's Financial Strategy Ensures Founder Control

Meta's financial strategy includes plans to potentially raise hundreds of billions in equity while ensuring Mark Zuckerberg retains control over the company.

user avatarAisha Farooq

BitGo Introduces BitGo Labs to Innovate in AI and Cryptocurrency

BitGo has launched BitGo Labs to develop AI-integrated applications for its digital asset infrastructure, starting with the Gokubu app.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.